The World's Economies Can Be Divided into Four Main Categories

question 113

Multiple Choice

The world's economies can be divided into four main categories according to their annual per-capita income levels: low-income, lower middle-income, upper middle-income and high-income economies. What category would Korea fall under?

• A) low-income
• B) upper middle-income
• C) high-income
• D) lower middle-income
• E) Korea falls between low income and lower middle-income.

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Definitions:

Sales Quota

A specific sales performance target assigned to a sales unit or team for a particular period.

Expense Account

An account that tracks expenditures for specific purposes, often used by employees to report costs incurred in the course of business that are reimbursable by the employer.

Organizational Objective

Specific, measurable goals that a company aims to achieve, steering its efforts towards broader mission and vision.

Global Expansion

The process of a business extending its operations or influence beyond its original national boundaries.