One of the Reasons Why the Growth in World Trade

question 47

Multiple Choice

One of the reasons why the growth in world trade has occurred is due to

• A) more stable political environments.
• B) countries are getting more prosperous.
• C) the income inequality gap is narrowing among countries.
• D) barriers to trade have been relaxed.
• E) economies have become more materialistic.

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Definitions:

Nondurable Goods

Items that are consumed or wear out rapidly and are expected to last for a short period, such as food, paper products, and most consumer goods.

Durable Goods

Products that are not consumed or destroyed in use and thus have a long life-span, such as cars and appliances.

Marketing Actions

Specific steps or strategies undertaken by companies to promote and sell products or services to target audiences.

New Product Development

A process used by companies to conceptualize, design, develop, and finally launch a new product in the market.