It Has Been Suggested That in the Last 20 Years

question 17

Multiple Choice

It has been suggested that in the last 20 years countries like Australia and New Zealand have moved much of their low-technology manufacturing, which is labour intensive, to less developed economies such as Vietnam, Cambodia, and China.What is this process being labelled as?

• A)Deregulation
• B)Globalisation
• C)Hollowing out effect
• D)Privatisation
• E)Economies of scale effect

---

Definitions:

Sales Tax Rate

The percentage of sales price that is added to the sales price of goods and services, collected by sellers.

Sales Tax Rate

The percentage added to the sale price of goods and services, collected by retailers and forwarded to the government.

Sales Tax

A tax levied by a government on the sale of goods and services, collected by the retailer and passed on to the government.

Market Value

The existing cost for purchasing or selling an asset or service in the open market.