In some areas of the world there are large, impoverished populations that need goods and services but cannot afford to pay the prices that wealthier consumers in developed countries can. The area of the market representing the poorer populations is known as

A) exchange controls.
B) parity purchasers.
C) bottom of the pyramid.
D) a trading bloc.
E) glocalization.

Bottom of the Pyramid

A socioeconomic concept that refers to the largest, but poorest group of people in the global population, who live on less than $2.50 a day.

Impoverished Populations

Communities that suffer from a lack of resources and economic instability, often leading to poor living conditions.

Goods and Services

The two primary categories of offerings in the economy; goods are tangible items, while services are activities or benefits offered for consumption.