According to Most Economists, the Development of Markets Is

question 20

Multiple Choice

According to most economists, the development of markets is:

• A)neither a necessary nor a sufficient condition for development.
• B)a necessary condition for development but not a sufficient condition.
• C)a sufficient condition for development but not a necessary condition.
• D)both a necessary and a sufficient condition for development.

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Definitions:

Marginal Product

The additional output gained by adding one more unit of a specific input, keeping all other inputs constant.

Profitability

A measure of the ability of a company or a business sector to generate earnings compared to its expenses and other relevant costs incurred during a specific period of time.

Employment

The state of having paid work, being engaged in an occupation or job.

Marginal Productivity

The additional output that is produced by using one more unit of a given input, while keeping other inputs constant.