ECONOMICS
TECHNOLOGY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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industrialized economies
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high GDP per capita
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Western European
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None of the above
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Detailed explanation-1: -The Economy of Europe Europe, much like the United States, is a free market economy based on the movement of capital. The economy of Europe has a GDP (Gross Domestic Product) of around 20 trillion US dollars, and includes more than 700 million people in almost 50 different countries.
Detailed explanation-2: -Germany is the substantial producer of all the three activities mentioned above (€160 billion, €196 billion and €267 billion respectively) in the EU.
Detailed explanation-3: -The EU accounts for around 14 % of the world’s trade in goods. The value of international trade in goods significantly exceeds that of services (by about three times), reflecting the nature of some services which makes them harder to trade across borders.