Compared with Industrialized Economies, Most Developing Countries Are Poor in the Factors

question 38

Multiple Choice

Compared with industrialized economies, most developing countries are poor in the factors of production essential to modern industry. These factors are

• A) capital and skilled labor.
• B) capital and unskilled labor.
• C) fertile land and unskilled labor.
• D) fertile land and skilled labor.
• E) water and capital.

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Definitions:

Scarce Incomes

The condition where available financial resources are insufficient to meet the needs or wants of individuals or communities.

Psychographic Segmentation

A marketing technique involving division of a market into segments based on consumer personality traits, values, attitudes, interests, or lifestyles.

Demographics

Statistical data relating to the population and the different groups within it, such as age, gender, income, and education.

Consumer Behavior

The study of individuals, groups, or organizations and the processes they use to select, secure, use, and dispose of products, services, experiences, or ideas to satisfy needs and the impacts that these processes have on the consumer and society.