Larger Economic Entities Typically Fare Better Than Smaller Ones in the Modem

question 25

Multiple Choice

Larger economic entities typically fare better than smaller ones in the modem world economy

• A) because demand for export is more stable than domestic demand.
• B) although autarky is still a decent option for many entities.
• C) because import demand is more stable than export demand.
• D) because small economies can often be overwhelmed by forces beyond the control of their leaders.

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Definitions:

Demand Curve

A graphical representation of the relationship between the price of a good and the quantity demanded by consumers.

Number Of Consumers

The total count of individuals in the market willing to purchase a particular good or service.

Clone

In biotechnology, it refers to an organism, cell, or piece of genetic material that is genetically identical to the one from which it was derived; in computing, it describes a replica or copy of a product, software, or hardware.

Price Elasticity

The responsiveness of the quantity demanded of a good or service to a change in its price.