All of the Following Are a Part of Global Production

question 2

Multiple Choice

All of the following are a part of global production EXCEPT:

• A) research.
• B) distribution.
• C) logistics.
• D) portfolio investment.

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Definitions:

U.S. GDP

U.S. Gross Domestic Product reflects the total monetary or market value of all the finished goods and services produced within the United States' borders in a specific time period.

Income Inelastic

A characteristic of a good whose demand does not significantly change as the income of consumers changes.

Price Inelastic

Describes a situation in which the demand for a good or service is relatively unresponsive to changes in price.

Price Inelastic

Describes a situation where the quantity demanded of a good does not significantly change when its price changes.