Why is there so little domestic production of goods for the population in many less developed countries?
A) because the majority of the many less developed countries would rather purchase imported goods.
B) because there is a shortage of labor available to work in factories in many less developed countries.
C) because the majority of the population does not have the income to purchase many manufactured goods.
D) because the International Monetary Fund requires many developed countries to increase their imports.

Question

Quizplus · Accepted Answer

Many less developed countries have a majority of the population living in poverty, making it difficult for them to purchase manufactured goods. As a result, there is little demand for domestic production, leading to a lack of investment in local manufacturing industries. Additionally, many multinational corporations prefer to outsource production to countries with lower labor costs, further limiting opportunities for domestic manufacturing.

Why Is There So Little Domestic Production of Goods for the Population