In Addition to Saving and Investment in Capital, Making an Even

question 273

Multiple Choice

In addition to saving and investment in capital, making an even larger contribution to long-term economic growth in real GDP per person

• A) are technological advances.
• B) is lower current consumption.
• C) is higher current consumption.
• D) is a larger work force.

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Definitions:

Local Market Adaptations

Adjustments made to products, services, or marketing strategies to suit the specific preferences and requirements of local markets or regions.

Cultural Innovation

involves the creation or adoption of ideas, practices, or products that significantly alter the cultural practices or norms within a society.

Local Adaptations

are modifications made to products, strategies, or communications to suit the specific tastes, cultural norms, or consumer behaviors of a particular geographic region.

Cultural Differences

refer to the variations in norms, values, beliefs, and practices among different groups or societies, significantly impacting consumer behaviors and marketing strategies.