MNCs Have Moved Certain Production Activities Overseas to Capitalize On

question 35

Multiple Choice

MNCs have moved certain production activities overseas to capitalize on:

• A)Increasing costs
• B)Cheap labor
• C)Larger markets
• D)Higher purchasing power

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Definitions:

Short Run

A period in economics where at least one factor of production is fixed and cannot be changed.

Purely Competitive

A market structure characterized by many sellers offering identical products with no single seller able to influence the market price.

Total Revenue

The total amount of money a firm receives from sales of its products or services before any expenses are subtracted.

Quantity Sold

The total number of units of a product or service that have been purchased by consumers during a specific period.