Most World Trade Takes Place ________

question 79

Multiple Choice

Most world trade takes place ________.

• A)between developed countries and developing countries
• B)among developed countries
• C)among developing countries
• D)between raw material exporters and manufacturing exporters

---

Definitions:

Marginal Utility

The additional satisfaction or utility that a consumer receives from consuming an additional unit of a good or service.

Total Utility

In economics, the total satisfaction received from consuming a particular quantity of goods or services.

Consumer Surplus

The difference between the total amount that consumers are willing and able to pay for a good or service and the total amount that they actually pay.

Marginal Utility

The increased happiness a buyer experiences by consuming an extra unit of a product or service.