Identify the business and economic implications of differences in culture.

Incentives such as tax breaks for fuel-efficient cars or the use of social stigma to discourage certain activities are created by throughout society. individuals technological progress constant returns to scale institutions

Which of the following is an example of a traditional economy?         The majority of people in Country B work in factories under very poor conditions for little pay.         The population of Country D is involved in a wide array of professions, including agriculture, service industries, technology, and manufacturing.         Country A relies on oil for most of its national income.         The vast majority of people in Country C are involved in hunting and fishing, though there are some farmers too. There are also some artisans who create basic products and services, which they trade to farmers in exchange for food.

Which factor can explain the economic differences between North and South Korea? Select all that apply. Cultural differences Geographical differences O Institutional differences Historical differences