Why Is Bangladesh Internationally Competitive in Textile and Clothing Manufacture

question 23

Multiple Choice

Why is Bangladesh internationally competitive in textile and clothing manufacture?

• A)Its wages are low.
• B)It is located near its markets.
• C)It has abundant natural resources.
• D)It has a well-educated population with levels of literacy.
• E)It has a cheap source of energy.

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Definitions:

Diseconomies of Scale

The phenomenon where production costs per unit increase as a firm operates at higher levels of output.

Long Run

A period in economic theory during which all factors of production and costs are variable.

Average Costs

Average costs are calculated by dividing the total costs of production by the quantity of output produced, often used to assess cost efficiency.

Output Increases

A rise in the amount of goods or services produced by an entity.