According to the Text,an Examination of the World's Population and Predictions

question 5

Multiple Choice

According to the text,an examination of the world's population and predictions for future populations suggests the following:

• A) The population of developing countries is nearly half of the world's total population.
• B) The 10 nations predicted to have the largest populations by the year 2050 are all developing countries.
• C) Because of low birth rates, developed nations will have a decreased demand for tourism and furniture.
• D) Because of low birth rates, developed nations will have an increased demand for financial services.
• E) The nation projected to have the largest population in 2050 is China.

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Definitions:

Fixed Costs

Expenses that do not change with the level of production or sales, such as rent, salaries, and insurance premiums.

Price Taker

An entity that accepts market prices as given, without having influence to change the price by its own actions.

Buyer

An individual or entity that purchases goods or services for personal use or ownership rather than for reselling or producing other goods and services.

Seller

An individual or entity that offers goods or services for sale to consumers or other businesses.