On Average, About Half the Labor Force in Developing Countries

question 35

True/False

On average, about half the labor force in developing countries works in agriculture, versus only about 3 percent in industrial market countries.

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Definitions:

Margin of Safety Percentage

A financial metric indicating the amount by which sales can drop before reaching the break-even point.

Fixed Expenses

are costs that do not fluctuate with the level of production or sales, such as rent, salaries, and insurance premiums.

Contribution Margin

The amount of revenue remaining after deducting variable costs, used to cover fixed costs and generate profit.

Variable Expenses

Costs that change in proportion to the level of production or sales activity.