The Easiest Way for a Country to Obtain Access to Technology

question 248

Multiple Choice

The easiest way for a country to obtain access to technology is through

• A)subsidizing education and training.
• B)promoting foreign direct investment.
• C)promoting policies to enhance saving.
• D)enacting policies to promote property rights.

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Definitions:

Total Profit

The total revenue of a business after subtracting all costs and expenses related to its operation.

Profit Per Unit

Profit per unit is the amount of money earned from selling one unit of a product or service, calculated by subtracting the cost per unit from the selling price per unit.

Break-even Point

The level of production at which total revenues equal total costs, resulting in neither profit nor loss.

Efficiency

Conditions under which maximum output is produced with a given level of inputs.