It Is Rare When Prices Fall in Modern Times

question 30

Multiple Choice

It is rare when prices fall in modern times.However,it is likely that they would fall during severe recessions.In what year is this most likely to have occurred?

• A) 2005
• B) 2009
• C) 2011
• D) 2012
• E) 2003

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Definitions:

Iron Ore

A naturally occurring mineral from which iron (Fe) is extracted for industrial use.

International Product Life Cycle

A theory that describes how a product matures and declines as it moves through different stages globally, from introduction to decline.

Mature Phase

The stage in a product, business, or industry lifecycle where growth stabilizes and is no longer rapid.

Less-Developed Countries

Nations with a lower standard of living, underdeveloped industrial base, and low Human Development Index (HDI) relative to other countries.