In Developing Nations, Such as India and Nigeria, _______________

question 47

Multiple Choice

In developing nations, such as India and Nigeria, _______________ .

• A) very little change has occurred in the past 40 years regarding where people live
• B) rural people are moving to the cities in large numbers
• C) small numbers of people have moved into the cities
• D) more people are moving to the suburbs than to the city centers
• E) most of the population is moving to the suburbs from the city centers

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Definitions:

Diamonds

Precious stones consisting of a clear and typically colorless crystalline form of pure carbon, often used in jewelry.

Price-Taking Firm

A price-taking firm is a company that must accept the market price for its product, having no influence on the price due to its small size relative to the industry.

Market Power

The ability of a firm to control the price and output of products in its market, often due to limited competition.

Government-Set Barriers

Regulations and policies established by governments to control the entry of firms into certain markets or to protect domestic industries from foreign competition.