According to the Text,among the Most Significant Political Causes of Globalization

question 76

Multiple Choice

According to the text,among the most significant political causes of globalization was the:

• A) development of a socialist alternative to the capitalist world market
• B) rise of Islamic fundamentalism as a response to Western political influence in the Arab world
• C) collapse of the Soviet bloc and the end of isolation for the former second world
• D) space race
• E) Cold War

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Definitions:

Price Elasticity of Demand

A measure of how much the quantity demanded of a good responds to a change in the price of that good, quantitatively defined as the percentage change in quantity demanded divided by the percentage change in price.

Expenditures on Milk

The total amount of money spent by individuals or entities on purchasing milk within a given period.

Perfectly Inelastic

A situation in which the demand for a good or service does not change regardless of a change in price.

Total Revenue

The overall amount of money generated from the sale of goods or services before deducting any expenses.