Statistics Indicate That Over Half of the World Output Now

question 106

Multiple Choice

Statistics indicate that over half of the world output now comes from emerging markets.This is leading to a(n) ________ of living standards across the globe and is changing the face of business.

• A) divergence
• B) convergence
• C) expansion
• D) contraction

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Definitions:

Marginal Costs

An additional delineation of the expenses incurred in the production of one more unit of a product.

Tradable Fishing Permits

Tradable fishing permits are regulatory tools that allow for the buying, selling, and trading of fishing rights among fishermen, aiming to manage and conserve fish stocks effectively.

Property Rights

Legal rights over the use, control, and transfer of property, which may include physical objects, intellectual properties, or resources.

Tradable Permits

Environmental or regulatory allowances that can be bought and sold, often used in emissions trading schemes to control pollution or carbon emissions.