__________ Refers to the Condition When a Country Is Provided

question 69

Multiple Choice

__________ refers to the condition when a country is provided a benefit as it enters a new industry first.

• A) Special trading privilege
• B) Neo-colonialism
• C) First-mover advantage
• D) Entrepreneurial benefit

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Definitions:

Goods And Services

The products (goods) and activities (services) offered in the market for purchase, representing the output of an economy’s production.

Operating Costs

Operating costs are expenses associated with the day-to-day functions of a business, including costs for goods, services, rent, and salaries.

Fixed Costs

Expenses that do not change with the level of goods or services produced by a business.

Construction

The process or activity of building structures such as houses, roads, and buildings.