Table 7.1 -Refer to Table 7.1.Based on the Table Above, Which Country

question 198

Multiple Choice

Table 7.1
-Refer to Table 7.1.Based on the table above, which country has a higher standard of living and why?

• A)Sweden has a higher standard of living because its GDP is higher.
• B)Ireland has a higher standard of living because its GDP per capita is higher.
• C)Sweden has a higher standard of living because its GDP per capita is higher.
• D)Ireland has a higher standard of living because growth in GDP is greater in Ireland than in Sweden.
• E)Ireland and Sweden have almost identical standards of living.

Understand the concept and examples of branded and unbranded products.

Comprehend the stages of the product life cycle and strategies applicable at each stage.

Identify different types of products such as consumer, industrial, and services.

Understand the role and characteristics of private distributor brands.

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