Economic Development
This term describes the process by which a country's economy grows and improves over time, leading to higher standards of living and increased prosperity.
What is economic development?
This term refers to the shift from a centrally planned economy to a market-oriented economy in Russia during the 1990s.
What is economic transition?
This Chinese leader implemented economic reforms in the late 1970s, leading to the opening up of the Chinese economy and the introduction of market-oriented policies.
Who is Deng Xiaoping?
Despite its abundant natural resources, Nigeria faces economic challenges such as high levels of poverty, unemployment, and this economic issue, which hinders economic growth and development.
What is corruption?
This Mexican party implemented economic reforms in the 1980s and 1990s, opening up the Mexican economy to foreign investment and promoting trade liberalization.
Who are the PRI
In the context of economic development, this term refers to the ability of a country to generate and sustain economic growth over the long term.
What is economic sustainability?
Under Soviet rule, this economic system prevailed in Russia, with the government controlling all aspects of production, distribution, and pricing.
What is a command economy?
This policy, introduced by Deng Xiaoping in the 1980s, allowed for the establishment of special economic zones in China, where foreign investment and private enterprise were encouraged.
What is the "Open Door" policy?
This term refers to the practice of redirecting funds intended for public projects or services for personal gain, a widespread problem in Nigeria.
What is embezzlement?
This economic agreement, signed by Mexico, the United States, and Canada in 1994, aimed to promote free trade and economic cooperation among the three countries.
What is the North American Free Trade Agreement (NAFTA)?
This term describes the total value of goods and services produced within a country's borders in a given period, often used as a measure of economic output.
What is Gross Domestic Product (GDP)?
This policy, implemented in Russia during the 1990s, aimed to privatize state-owned enterprises, liberalize prices, and open the economy to foreign investment.
What is shock therapy?
Despite economic reforms, China maintains a one-party system dominated by this political party, which has been in power since 1949.
What is the Chinese Communist Party (CCP)?
Nigeria's economy is heavily dependent on this natural resource, which accounts for a significant portion of government revenue and export earnings.
What is oil?
This term refers to the part of the economy in Mexico, consisting of unregistered businesses and workers who operate outside the formal sector, often without legal protections or benefits.
What is the informal sector?
This economic theory emphasizes the role of free markets, competition, and private enterprise in promoting economic growth and development.
What is neoliberalism?
Despite efforts to transition to a market economy, Russia continues to face challenges such as corruption, weak institutions, and an overreliance on this natural resource.
What is oil?
This Chinese leader, who came to power in 2012, has implemented policies aimed at combating corruption, promoting economic innovation, and expanding China's global influence.
Who is Xi Jinping?
This term refers to the uneven distribution of wealth, income, and resources within Nigeria, contributing to social and economic disparities.
What is income inequality?
This Mexican president, who served from 2006 to 2012, launched a military-led crackdown on drug cartels, known as the "War on Drugs," which led to increased violence and controversy.
Who is Felipe Calderón?
In the context of economic development, this term refers to policies aimed at attracting foreign investment, promoting technology transfer, and fostering economic growth through multinational corporations.
What are foreign direct investment (FDI) policies?
This term describes the period of economic decline and instability that occurred in Russia during the transition from communism to capitalism in the 1990s.
What is the Russian economic crisis?
This term refers to the economic model pursued by China, which combines state intervention and planning with market-oriented reforms.
What is socialism with Chinese characteristics?
Despite economic challenges, Nigeria has implemented policies aimed at diversifying the economy, promoting agriculture, and attracting foreign investment, as part of its efforts to achieve this economic goal.
What is economic development?
This economic policy, pursued by Mexico in the mid-20th century, aimed to reduce dependence on imported goods by promoting domestic industries and manufacturing, often through tariffs and trade barriers.
What is import substitution industrialization (ISI)?