Which Statement Characterizes Economic Development

question 27

Multiple Choice

Which statement characterizes economic development? 

• A) it is an increase in the capacity of a country to provide people with goods and services 
• B) it is encouraged by increased consumption per capita 
• C) it is encouraged by population growth 
• D) it is the improvement of living standards by economic growth

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Definitions:

Complementary Merchandise

Products that are sold together or used jointly because they complement each other.

Broker

An individual or firm that acts as an intermediary, facilitating transactions between buyers and sellers for a fee or commission.

Internet Company

A business that primarily operates online, providing products or services through the web.

Merchant Wholesalers

Businesses that buy goods in bulk from manufacturers and sell them, usually in smaller quantities, to retailers or other businesses, but not directly to consumers.