Which of These Statements About Peripheral Countries Is False

question 83

Multiple Choice

Which of these statements about peripheral countries is false?

• A)they are the largely agricultural countries
• B)they lack natural resources
• C)they are often politically unstable
• D)they exercise little world power

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Definitions:

Excess Demand

A situation where the quantity demanded of a good or service exceeds the quantity supplied at the current price, leading to upward pressure on prices.

Good X

A term used to represent a hypothetical or specific good in economic models and discussions.

Excess Supply

A situation where the quantity of a good supplied is greater than the quantity demanded at the current price.

Good Y

A non-specific term used in economic models to represent a product or service, usually contrasted with another good, referred to as "Good X."