One Explanation for Greater Economic Development in Moderate Versus Tropical

question 39

Multiple Choice

One explanation for greater economic development in moderate versus tropical climates is that institutions established by colonial settlers in moderate climates ______, while institutions established by colonists in tropical climates ______.

• A) were based on English common law; were based on the Napoleonic Code
• B) were based on the Napoleonic Code; were based on English common law
• C) protected property rights; were extractive and authoritarian
• D) were extractive and authoritarian; protected property rights

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Definitions:

Total Promotion Expenditures

The aggregate amount of money a company spends on all promotional activities, including advertising, sales promotions, public relations, and personal selling, over a set period.

Marketing Costs

Expenses related to promoting and selling a product or service, including advertising, market research, and distribution.

Unit Sales Price

The cost at which individual units of a product are sold to consumers or retailers.

Average Revenue

Average revenue is the amount of money that a company receives per unit of goods or services sold, calculated by dividing total revenue by the number of units sold.