Which of the Following Statements Can Be Used to Explain

question 139

Multiple Choice

Which of the following statements can be used to explain the growth of international business?

• A) Many countries in Europe and Asia were devastated after World War II and had to be rebuilt.
• B) The postwar population boom decreased demand for products.
• C) Changes in cultural traditions made the rest of the world open to all of the products made in the United States.
• D) Infrastructures in Europe and Asia remained sound in spite of World War II.
• E) All of these choices

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Definitions:

Consumption

The act of using goods and services by households, which is a primary component in measuring gross domestic product (GDP) in economics.

Consumer's Surplus

The disparity between what consumers are prepared and can afford to spend on a product or service and the actual amount they end up paying.

Total Amount

The complete sum or quantity of something, encompassing all parts or units counted.

Willing to Pay

The maximum amount an individual is prepared to spend to acquire a good or service.