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What does MIC mean in geography?

MIC stands for "Middle-Income Country" in geography. This term is used to categorize countries based on their level of economic development, with middle-income countries falling between low-income and high-income countries. These countries typically have moderate levels of economic development and income levels.


What is a sentence for tourism?

Tourism is an important source of income for many countries in Oceania.


Is tourism important to Czechoslovakia?

Yes it is, as it would be one of the main countries income'.


What role does outsourcing play in globalization?

Outsourcing is a global phenomenon and a key player in many economies the world over. Many analysts say that outsourcing helps connect businesses to connect globally, where it helps sustain the macroeconomic environment.


What is a high and low income countries?

They are countries with high or low income. High income countries (HICs) tend to be in the Northern hemisphere and low income countries (LICs) tend to be in the Southern hemisphere. There are also middle income countries (MICs).


Is china a LIC MIC HIC?

China is considered a Middle-Income Country (MIC) as its economic development has propelled it to become one of the world's largest economies. China's per capita income is above that of Low-Income Countries (LICs) but still below that of High-Income Countries (HICs).


Why is tourism such an important industry?

IT provides countries with income and jobs across a wide range of indusrty sectors


Why is tourism an important industry?

IT provides countries with income and jobs across a wide range of indusrty sectors


Why is there a difference in waste production between low income countries and High income countries?

there is a difference in waste production between low income countries and high income countries because high income countries have more money to spend on raw materials therefore creating more waste.


What four groups the world bank divides the world into?

The World Bank divides countries into four income groups based on Gross National Income (GNI) per capita: low-income, lower-middle-income, upper-middle-income, and high-income countries. Each group represents a range of income levels to help guide development assistance and lending practices.


Why the national income statistic cannot good for discussing the income of developing countries?

National income is not a good statistic for discussing the income of developing countries as it includes the income of richest and the poorest. It does not represent the equality of income.


Why income tax important for the government?

Income tax is very important for nation, development what ever any countries, when ever we don't pay income tax so then ever any country can't go a head. If we want to our country look like a heaven so we have to pay income tax. That's way government want income tax.