Today,the Principal Focus of Export Controls Rests in Which Area(s)of

question 78

Multiple Choice

Today,the principal focus of export controls rests in which area(s) of the world?

• A)Third World
• B)Under-populated regions
• C)Developed world
• D)Communist world
• E)Northern hemisphere

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Definitions:

Marginal Revenue

The additional income obtained from selling one more unit of a product or service.

Demand Schedule

A table that shows the quantity of a good or service that consumers wish to buy at each price level.

Output

The quantity of goods or services produced by a firm, industry, or economy in a given period.

X-inefficiency

X-inefficiency occurs when a firm produces outputs at higher costs than is necessary, often due to a lack of competitive pressure or motivation.