What Is Happening in the Least Industrialized Nations

question 56

Multiple Choice

What is happening in the least industrialized nations?

• A) Industrialization is preceding urbanization.
• B) Urbanization is preceding industrialization.
• C) Rural immigration is accompanying industrialization.
• D) Urbanization is creating industrialization.
• E) Rural immigration is replacing urbanization.

---

Definitions:

Average Total Cost

The cost per unit of output, calculated by dividing the total cost of production by the total number of units produced.

Marginal Revenue

The added revenue procured by vending an additional unit of a good or service.

Business

An organized effort by individuals to produce and sell goods and services for profit.

Average Total Cost

The total cost of production (fixed and variable costs combined) divided by the total quantity produced.