Which One of the Following Nations Falls in the Lower-Middle-Income

question 3

Multiple Choice

Which one of the following nations falls in the lower-middle-income category?

• A)Burundi
• B)Bangladesh
• C)India
• D)Venezuela
• E)none of the above

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Definitions:

Required Sales

The volume of sales necessary to achieve a specific financial objective, such as covering costs or reaching a target profit.

Contribution Margin

It is the amount by which sales revenue exceeds variable costs. It contributes towards covering fixed costs and generating profit.

Variable Expenses

Costs that vary in direct proportion to changes in an activity level or volume, such as sales commissions.

Fixed Expenses

Costs that do not fluctuate with changes in production level or sales volume, such as rent.