The Table Below Shows the Quantity Demanded (In Thousands) and Quantity

question 79

Multiple Choice

The table below shows the quantity demanded (in thousands) and quantity supplied (in thousands) of computers in the U.S. and Canada at different prices.Table 20.5

-Firms in industrial countries find a larger market for their goods in other industrial countries than in developing countries because:

• A)the consumption patterns in the industrial countries are highly heterogeneous.
• B)the trade policies of the industrial nations are more favorable than the developing countries.
• C)the industrial countries tend to have a higher population than the developing countries.
• D)the industrial countries are capital intensive countries.
• E)the consumption patterns in the industrial countries are more or less uniform.

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Definitions:

Private Good

A product or service that is consumed by an individual or a limited group, characterized by its excludability and rivalrous nature.

Common Characteristics

Shared features or qualities among items, individuals, or groups that allow them to be categorized or identified as part of a larger set.

Nonprofit Organizations

Organizations that utilize surplus revenues to achieve their goals rather than distributing them as profit or dividends.

Government Failure

Occurs when government intervention in the economy causes more harm than good, leading to inefficiency, waste, or the misallocation of resources.