Which of the Following Is Most Characteristic of Developing Nations

question 194

Multiple Choice

Which of the following is most characteristic of developing nations?

• A) a small percentage of the labor force in agriculture
• B) a relatively equitable distribution of income
• C) low levels of labor productivity
• D) low rates of population growth

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Definitions:

Indifference Map

Graph containing a set of indifference curves showing the market baskets among which a consumer is indifferent.

Indifference Curves

Graphical representations that show combinations of two goods between which a consumer is indifferent, meaning they provide the same level of satisfaction.

Cartesian Plane

A two-dimensional number plane formed by the intersection of a vertical y-axis and a horizontal x-axis, used in geometry and algebra to plot points and graph equations.

Utility

In economics, the satisfaction or benefit derived by consuming a product, thus the preference for one product over another.