In industrialized countries,the richest 30 percent of the population consumes 30 percent of all goods and services,whereas the respective figure for the developing countries may be as high as 75 percent.

Question

Quizplus · Accepted Answer

The statement is incorrect. In actuality, the richest 30 percent of the population in industrialized countries consume a much higher percentage of goods and services than 30 percent. According to a report by the World Bank, the richest 20 percent of the population in high-income countries consume 70 percent of goods and services, while the poorest 20 percent consume just 2 percent. Additionally, the statement incorrectly implies that developing countries as a whole have a consumption rate of 75 percent among the richest 30 percent. In reality, consumption patterns vary greatly among developing countries and within their populations.

In Industrialized Countries,the Richest 30 Percent of the Population Consumes