Physical Capital Differences Across Countries Can Be Seen in the Fact

question 6

Multiple Choice

Physical capital differences across countries can be seen in the fact that

• A) furniture factories in China use machines like those in North America.
• B) the iPhone's components are produced in 30 countries.
• C) advanced economies produce 53 per cent of the world's income.
• D) more advanced economies typically have more sophisticated technology.
• E) students in India study the same subjects as those in Australia.

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Definitions:

Prototype

A mock-up of a good, often created individually with the materials the firm expects to use in the final product.

Mock-Up

A full-size model of a design or device, used for product presentations or to evaluate a concept.

Final Product

The completed version of a product after all stages of production and preparation, ready for sale or distribution.

Cloudsourcing

Outsourcing services, work, or processes to a network of online, cloud-based service providers.