IM-Ch09

Economic ___ refers to an increase in the average per capita GDP or GNI.

• repression

• development

• sustainability

• equilibrium

The UN classification on economic development has been criticized because it no longer is relevant.

• True

• False

Which statement is true about MDCs (more-developed countries)?

• These countries are just entering world trade.

• The majority of their populations stay in rural areas.

• These countries have high per capita incomes.

• These countries have little world trade involvement.

A more developed economy tends to have fewer types of marketing functions that are needed.

• True

• False

Economic development translates to rapid economic growth and increases in consumer demand.

• True

• False

For international marketing, the level of market development parallels the stages of economic development.

• True

• False

Paved roads, railroads, seaports, communication networks, and financial networks are examples of

• environmental resources.

• inventory.

• factors of production

• infrastructure