Economically Advanced Capitalist Countries, Also Known as Developed Countries and High-Income

question 89

Multiple Choice

Economically advanced capitalist countries, also known as developed countries and high-income economies, are classified by the World Bank as _____

• A) developing countries.
• B) low-income economies.
• C) middle-income economies.
• D) transitional economies.
• E) industrial market countries.

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Definitions:

Production Rate

The speed at which goods are manufactured or produced in a given period.

Production Possibility Frontier

A chart that outlines the utmost production possibilities for two types of goods, contingent upon a selection of resources and other conditions.

Technology Improvement

Enhancements or innovations in technology that increase productivity, efficiency, and product quality in various sectors.

Economy

The system of production, consumption, and distribution of goods and services in a particular geographic region or country.