All of the Following Are Characteristic of the Global Economy

question 61

Multiple Choice

All of the following are characteristic of the global economy EXCEPT

• A) the increasing importance of developing countries as sources of revenue growth.
• B) the free movement of goods, services, people, skills, and ideas across geographic borders.
• C) the increased use of tariffs to protect industries.
• D) higher levels of performance standards.

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Definitions:

Simultaneous Consumption

A consumption pattern in which a product or service is consumed by multiple users at the same time without reducing its availability to others.

Economies of Scale

The financial benefits companies experience from expanding their operation's size, where there's a general trend of decreasing unit costs with the growth in scale.

French Government

The political system of France, characterized by semi-presidential system with a division of powers between the president, the parliament, and the government.