Where Are Most of the Least Developed Countries Located

question 17

Multiple Choice

Where are most of the least developed countries located?

• A) East Asia
• B) Sub-Saharan Africa
• C) Central Europe
• D) The Pacific Islands
• E) South America and the Caribbean

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Definitions:

Consumer Surplus

The difference between what consumers are willing to pay for a good or service and what they actually pay.

International Trade

The exchange of goods, services, and capital among various countries and territories, crossing their international borders.

Absolute Advantage

The ability of a country, individual, or group to produce a good or service more efficiently than competitors, using fewer resources.

Microchips

Small semiconductor devices that contain electrical circuits capable of processing data or controlling devices and processes.