The Ability of the DVCs to Use the Technologies of the IACs

question 62

Multiple Choice

The ability of the DVCs to use the technologies of the IACs is somewhat limited because

• A) the IACs have patents on most of their technologies.
• B) the IACs and the DVCs have much different resource endowments.
• C) the technologies of the IACs rely heavily on unskilled labor.
• D) IAC technologies are labor-intensive, while DVC technologies are capital-intensive.

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Definitions:

OPEC

The Organization of the Petroleum Exporting Countries, a group of oil-producing nations that coordinate petroleum policies and prices internationally.

World's Oil

Refers to the global production, distribution, and consumption of crude oil as a key energy source.

Saudi Arabia

A sovereign country in the Middle East, known for its vast oil reserves, which play a central role in its economy, and as the birthplace of Islam.

Price Of Oil

The cost per barrel of crude oil, influenced by factors such as supply, demand, geopolitical tensions, and production decisions by OPEC and non-OPEC countries.