A Country That Has Highly Qualified Technical Workers and Has

question 94

Multiple Choice

A country that has highly qualified technical workers and has benefited from service sector outsourcing from the U.S. is ________.

• A) Nigeria
• B) Iceland
• C) Japan
• D) India

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Definitions:

Behavioral Economics

is a field of economics that studies how psychological, emotional, cultural, and social factors affect economic decisions of individuals and institutions.

Psychology

The scientific study of the human mind and its functions, especially those affecting behavior in a given context.

Standardization

The process of implementing and developing technical standards based on the consensus of different parties including firms, users, interest groups, standards organizations, and governments.

Cost Economies

Refers to the reduction in average cost of production as a firm increases its size or volume of output, typically achieved through operational efficiencies.