Which of the Following Is True of Trade Within Africa

question 7

Multiple Choice

Which of the following is true of trade within Africa?

• A) It is relatively limited because so many countries produce the same raw materials for export.
• B) It makes up the bulk of each African nation's GDP.
• C) Trade within Africa is high in comparison with other developing regions.
• D) Trade within Africa is increasing due to the continent's high industrial capacity.

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Definitions:

Departments

Divisions within an organization, each responsible for specific functions or tasks.

Departmental Predetermined Overhead Rates

Rates calculated in advance for each department, used to assign overhead costs based on estimated activity levels.

Machine-Hours

A measure of the total time that machines are operating, often used as a basis for allocating manufacturing overhead costs.

Markup

The amount added to the cost price of goods to cover overhead and profit, resulting in the selling price.