Poor Nations Typically Have a Competitive Advantage in Agricultural Goods

question 51

Multiple Choice

Poor nations typically have a competitive advantage in agricultural goods because of

• A)Entrepreneurial incentives.
• B)Plenty of land.
• C)High productivity.
• D)Low labor costs.

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Definitions:

Union Membership

Refers to the affiliation of individual workers with organized labor unions which advocate for the rights, wages, benefits, and working conditions of their members.

Declined

A term referring to a decrease or rejection in context, whether in numbers, agreement to proposals, or the status of something.

Industrial Revolution

A period of major industrialization that took place during the late 1700s and early 1800s, transforming economies that had been based on agriculture and handicrafts into economies based on large-scale industry, mechanized manufacturing, and the factory system.

Steam Engine

A steam-powered engine that executes mechanical tasks, significantly contributing to the Industrial Revolution by operating factories, locomotives, and maritime vessels.