As Per-Capita Income in China Rises,the Complexity and Quality Level

question 65

Multiple Choice

As per-capita income in China rises,the complexity and quality level of the products demanded by Chinese consumers also rises. This is a principle of which theory?

• A)Theory of absolute advantage
• B)Overlapping product ranges theory
• C)Competitive advantage of nations theory
• D)Imperfect markets theory
• E)Product cycle theory

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Definitions:

Denominator

In a fraction, the number below the line which indicates the total number of parts into which the whole is divided.

Fraction

A mathematical expression representing the division of one quantity by another; it consists of a numerator and a denominator.

Multiply

The mathematical operation of increasing one number by the value of another, a basic arithmetic function symbolized by the symbol “x” or “*”.