Census Data for Many Countries Does Not Exist and It

question 59

Multiple Choice

Census data for many countries does not exist and it is difficult to obtain in some countries.The problem encountered by researchers in using census data here pertains to:

• A) language.
• B) timeliness.
• C) data content.
• D) foreign market data.

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Definitions:

Shutdown Point

The level of output and price at which a firm's total revenue just covers its variable costs; below this point, the firm would cease production.

Maximizing Losses

Contrary to economic rationality, refers to theoretical actions or strategies that would lead to the greatest possible financial losses.

Diminishing Returns

A principle stating that as more investment is made in a particular resource, the marginal gain in output will eventually decrease.

Fixed Factor

Inputs in production that cannot be easily increased or decreased in the short term, such as buildings and land.