High-Income Nations

question 85

Multiple Choice

High-income nations

• A) lie mostly in the southern hemisphere.
• B) are frequently the sites of foreign-owned factories and call-centres.
• C) contain almost all the world's financial markets.
• D) are largely pastoral.

---

Definitions:

Willingness To Pay

The maximum amount a consumer is ready to pay for a good or service, indicating the value they place on it.

English Auction

An auction format where the price increases incrementally with each new bid, and the item is sold to the highest bidder at the close of bidding.

Expected Revenue

Expected revenue is the amount of money a business anticipates earning over a specific period, based on forecasted sales volumes and prices.

Rationally

Making choices that are consistent and in line with one's self-interest, guided by the use of reason and available information.