143k views
3 votes
"___ countries involve rapidly expanding consumer markets, cheap motivated labor, and mature standardized industries

a) low-income
b) upper middle-income
c) lower middle-income
d) high-income

1 Answer

2 votes

Final answer:

The description provided refers to the qualities found in upper middle-income countries, where there is a focus on growing human capital, physical capital, and becoming more connected to global markets and technology while maintaining lower costs.

Step-by-step explanation:

The characteristics of rapidly expanding consumer markets, cheap motivated labor, and mature standardized industries align closely with the economic conditions generally found in upper middle-income countries. These countries are in a phase where they are emphasizing the growth of human capital, physical capital, and innovation while becoming more connected to technology and global markets. Upper middle-income countries like Mexico, China, or South Africa connect with these attributes as they have lower costs of living and therefore pay lower wages, which can be a competitive threat to high-income nations.

Low-income countries typically deal with significant health, education, and infrastructure challenges that hamper their growth, and high-income countries focus on maintaining their economies through advanced innovation and technology. Therefore, among the given options, upper middle-income countries are the ones with rapidly expanding consumer markets, motivated labor at affordable costs, and industries that have reached a certain level of standardization and maturity, aimed at elevating their global economic positioning.

User Harshit Hiremath
by
7.9k points