Which of the Following Is Correct with Regard to Social

question 30

Multiple Choice

Which of the following is correct with regard to social and cultural differences?

• A) Canadians make fewer trips to supermarkets than Europeans do.
• B) Most differences between cultures are pretty obvious.
• C) Clothing manufacturers do not have to worry too much about cultural differences because fashion trends have rapidly become worldwide.
• D) Countries with growing populations tend to have a disproportionate number of older people.
• E) All of these are correct.

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Definitions:

Competition

The rivalry among businesses to attract customers, striving to achieve such goals as higher sales, market share, and innovation.

Price

The amount of money required to purchase a good or service.

Firms

Business organizations or entities engaged in commercial, industrial, or professional activities, aiming to generate profits.

Marginal Cost

The increase in total production costs that arises from producing an additional unit of a good or service.