Final answer:
True, the potential of a market can indeed be evaluated by the rate of economic development, indicated by factors such as consumer buying power and GDP per capita. These factors are essential for understanding the global economy and are used to inform decisions on international relations and trade.
Step-by-step explanation:
The potential of a market can be evaluated based on the rate of economic development, which is true. This can be expressed through validated, reliable market indicators such as consumer buying power. Consumer buying power, which is closely linked with the economic health of a nation, can provide insights into the potential demand within a market. Factors such as GDP, energy consumption, and the availability of consumer goods also play a significant role in assessing a nation's development and by extension, market potential.
Various economic indicators are critical tools used by economists to make generalizations about a country's growth and development. These indicators are essential for understanding the global economy and helping countries make informed decisions on international trade, political agreements, and much more. GDP per capita, while useful, must often be converted using purchasing power parity to allow for accurate comparisons between countries due to differences in the cost of goods.