Why Were There Essentially No Large African Markets for Excess

question 27

Multiple Choice

Why were there essentially no large African markets for excess European industrial goods?

• A)Africans resented European intrusion in their lives.
• B)Most Africans had no use for modern products.
• C)The Europeans only sent inferior goods to Africa.
• D)The Africans never had adequate cash incomes to spend on consumer goods.
• E)The costs of shipping goods to Africa proved to be too high.

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Definitions:

High-Value

Refers to items or services that are of significant worth, often due to their quality, scarcity, or demand.

Low-Value

Describes items or services perceived as offering limited benefit or worth compared to their cost or other alternatives.

Expected Value

A calculated average of all possible values for a random variable, weighted by their respective probabilities.

Low-Value Bidders

Participants in an auction or tender process who submit bids that are significantly lower than those of other bidders.