Which of the Following Is Not Correct About the Economies

question 76

Multiple Choice

Which of the following is not correct about the economies of the Middle East?

• A) There is only a small amount of arable land.
• B) Most of the most fertile agricultural land is owned by peasant farmers.
• C) There is a lack of water in the region.
• D) The Qur'an has little to say about economics.
• E) Oil resources are not evenly distributed in the region.

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Definitions:

Fixed Costs

Operating expenses of a business that remain constant regardless of the volume of production or sales.

Unit Contribution Margin

The amount each unit sold contributes towards covering fixed costs and generating profit, calculated as the selling price per unit minus the variable cost per unit.

Operating Income

Earnings before interest and taxes (EBIT), measuring a company's profit from its operational and regular business activities.

Fixed Costs

Expenses that do not change in relation to the volume of production or sales, such as rent, salaries, and insurance.