Even though a nation’s GDP is small, if a small percentage of its population received a...

Even though a nation’s GDP is small, if a small percentage of its population received a large percentage of that income:

it may be a good market for high-priced industrial products.
it may be a good market for high-volume, low-priced consumer products.
it may be a good market for low-volume, high-priced luxury products.
B and C.

Solutions

Expert Solution

Option C is correct

That is It may be a good market for low-volume, high-priced luxury products.

Small GDP implies that goods market has low volume means low production of goods.

Small proportion earning high income means that the goods produced have Luxury value which are high priced goods ,affordable by some people only .

Rahul Sunny answered 1 year ago

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