A Multinational Company That Makes a Labour-Intensive Product Realizes That

question 33

Multiple Choice

A multinational company that makes a labour-intensive product realizes that factors such as median age, gender, and literacy rates will determine the success of its global expansion. What is the term that identifies the makeup of countries?

• A)demographics
• B)lifestyle
• C)ethnicity
• D)culture

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Definitions:

Consumption Proportions

This term refers to the ratio in which different goods or services are consumed by individuals or within an economy.

Price Change

A fluctuation in the market price of a good or service over a specific period.

Initial Endowment

The initial allocation of goods, resources, or money which an individual or entity possesses at the start of a consideration period.

Weak Axiom

A principle in consumer theory that, if a consumer chooses bundle A over bundle B when both are affordable, they will not choose B over A if A's price decreases and B's price stays the same or increases.