For Many Developing Countries, Natural Resources or Agricultural Commodities Make

question 89

Multiple Choice

For many developing countries, natural resources or agricultural commodities make up ________ share of exports

• A) close to no
• B) an unimportant
• C) an important
• D) close a to 5 percent
• E) close to a 50 percent

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Definitions:

Industry Growth

Industry growth refers to the expansion and increased output of a specific sector of the economy, driven by factors like demand, innovation, and investment.

Normal Profits

The minimum level of profit necessary for a company to remain competitive in the market, also seen as the cost of keeping an entrepreneur in business.

Economic Profits

Profits calculated by subtracting both the explicit and implicit costs from a firm's total revenues; a measure of earnings exceeding the opportunity costs.

Entry Of Firms

The process by which new companies enter into an industry, adding to the competition.