A Country's ________ Shapes Its Product and Service Needs, Income

question 114

Multiple Choice

A country's ________ shapes its product and service needs, income levels, and employment levels.

• A) international trade system
• B) income distribution
• C) industrial structure
• D) political structure
• E) foreign exchange system

---

Definitions:

Rent-Seeking Behavior

Rent-seeking behavior occurs when individuals or firms seek to increase their own wealth without contributing to productivity, often through political manipulation or monopolistic practices.

Government Policies

Actions and principles that a government follows or implements to achieve certain goals in the country's social, economic, and foreign affairs.

Extra Profit

Additional earnings that exceed the normal expected profit from business activities.

Rent-Seeking Behavior

Actions by individuals or firms aimed at manipulating the political or economic environment to acquire unearned income or profits.