The Meaning of the Term an 'International Division of Labour

question 20

Multiple Choice

The meaning of the term an 'international division of labour' means:

• A) That international competition will create potential conflicts between people
• B) That as a result of outsourcing workers in certain countries will lose their jobs to those in others
• C) That developing countries should specialize in labour-intensive industries and developed countries in capital intensive ones
• D) That developing countries should seek to protect their workers from foreign competition

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Definitions:

Resource-Owners' Money Income

The income generated by individuals or entities from renting or providing their owned resources, such as land, labor, or capital, to others for use.

Costs to Business

All expenses incurred by a business in the process of producing goods or services, including both fixed and variable costs.

Distribution of Output

The way in which the total goods and services produced by an economy are allocated or distributed among its population.

Interest Income

The earnings received from investments in vehicles such as savings accounts, certificates of deposit, or bonds, typically presented as a percentage of the investment's total value.