Countries with Varied Climates and Varied Natural Resources Generally ________

question 42

Multiple Choice

Countries with varied climates and varied natural resources generally ________ than countries with less varied climates and natural resources.

• A)have lower per capita incomes
• B)depend less heavily on trade
• C)have more ethnic subgroups
• D)have higher endowments of capital relative to labor

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Definitions:

Common Fixed Costs

Costs that are not directly attributable to a specific product, service, or segment, but are shared among different parts of a business or project.

Contribution Margin

The amount of revenue remaining after deducting variable costs, contributing towards covering fixed costs and generating profit.

Variable Costs

Costs that change in proportion to the level of goods or services produced by a business.

Total Manufacturing Costs

The aggregate of all costs involved in the process of producing a product, including direct materials, direct labor, and manufacturing overhead.