The Size and Growth Rate of a Country's Middle Class

question 45

Multiple Choice

The size and growth rate of a country's middle class is termed as ________.

• A) market consumption capacity
• B) market intensity
• C) market receptivity
• D) market size

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Definitions:

Plant Size

Plant size refers to the capacity or physical extent of a manufacturing or production facility, which impacts its output and efficiency levels.

Minimum Efficient Scale

The smallest level of production at which a firm can achieve the lowest long-run average total cost, underscoring economies of scale.

Output

The quantity of goods or services produced by a firm or industry within a certain period of time.

Inputs

Resources used in the production process to create goods and services, including labor, capital, materials, and energy.