A country's ________ shapes its product and service needs, income levels, and employment levels.
A) international trade system
B) income distribution
C) industrial structure
D) political structure
E) foreign exchange system

Question

Quizplus · Accepted Answer

The industrial structure of a country, which includes the types of industries and their importance to the economy, has a significant impact on the country's product and service needs, as well as on employment levels. For example, a country with a large manufacturing sector will have a higher demand for inputs such as raw materials and machinery, and will require a skilled workforce to produce these goods. Additionally, the income levels of a country are often closely tied to its industrial structure, with certain industries (such as high-tech or finance) tending to pay higher wages than others.

A Country's ________ Shapes Its Product and Service Needs, Income