Question

In emerging markets that are still in an early stage of economic development, a ___________ approach might be more beneficial than ______________.

a. GCCP; UCCP
b. GCCP; NCCP
c. GCCP; XCCP
d. GCCP; LCCP
e. none of the above

Answer 1

For emerging markets in early economic development stages, market-oriented economic reforms like the Global Commodity Chain approach are more effective than strategies of import substitution, which have not proven successful.

Step-by-step explanation:

In emerging markets that are still in an early stage of economic development, a market-oriented economic reforms approach might be more beneficial than import substitution.

The acronym GCCP stands for the Global Commodity Chain approach, which aligns with market-oriented economic strategies, including improving standards of living through access to international markets and capital for new businesses.

In contrast, import substitution strategies have not shown success in fostering development. Successful economies often focus on integrating with the global economy, enhancing human capital, and leveraging technology.