Shifts in the Nature and Location of Production Systems, Especially

question 16

True/False

Shifts in the nature and location of production systems, especially to China and India, are reducing the response time to changing market conditions.

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Definitions:

Necessities

Items or services that are essential for basic human survival and functioning, such as food, water, and shelter.

Gross Income

The total revenue generated from sales or services before any deductions are made for expenses.

Inflation

A general increase in prices and fall in the purchasing value of money.

Disposable Income

The amount of money individuals have available to spend and save after taxes have been deducted from their income.