The City of Mumbai, India, Has Fourteen Million People, Making

question 62

Multiple Choice

The city of Mumbai, India, has fourteen million people, making it the second-largest city in the world, and Mumbai handles the majority of India's maritime commerce. These facts help to explain why Mumbai would be called a(n) :

• A) Metropolitan Statistical area.
• B) global city.
• C) sustainable living area.
• D) agglomeration.
• E) agrarian area.

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Definitions:

Producer Surplus

The difference between what producers are willing to receive for a good compared to what they actually receive, essentially the profit.

Price Rises

An increase in the cost of goods or services, often due to factors such as inflation, increased production costs, or higher demand.

Existing Producers

Companies or individuals that are currently producing and selling goods or services within a market.

Consumer Surplus

The discrepancy between what consumers are prepared and able to spend on a good or service and the actual amount they end up paying.