Literacy Tests Offer a Good Basis on Which to Compare

question 108

True/False

Literacy tests offer a good basis on which to compare nations because they are highly standardized globally.

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Definitions:

Industry Concentration

A measure of the extent to which a small number of firms dominate the total production, sales, or market share in an industry.

Elastic

A measure in economics indicating how much the demand or supply of a good changes in response to a change in price.

Marginal Revenue

The extra revenue gained by selling an additional unit of a product or service.