In Economic Geography,what Does the Term "North-South Split" Refer To

question 86

Multiple Choice

In Economic Geography,what does the term "North-South split" refer to?

• A) the division of the world into developed countries and underdeveloped countries
• B) countries that have good growing conditions (soil, climate) and those that do not
• C) countries that are democracies versus those that are dictatorships
• D) areas in the global north were settled by Britain, areas in the global south were not
• E) the physical geographic divisions of the globe

Distinguish between short run and long run in production and costs.

Differentiate between economic and accounting profits.

Evaluate the impact of labor on production through concepts of marginal and average product.

Understand the principles of economies and diseconomies of scale.

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Definitions:

Transformational

Relating to or involving significant change in something, often in a way that makes it better or more effective.

Mentoring

A process where an experienced individual provides guidance and support to someone less experienced, enhancing their personal and professional growth.

Creativity

The ability to produce original and valuable ideas or solutions to problems through imaginative thinking.

Law Of Exchange

A principle in economics and social science stating that parties engage in transactions when they perceive the benefits will outweigh the costs.