To focus on producing one thing to improve productivity is known as: a) International trade b) Supply and Demand c) Absolute Advantage d) Specialization
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- Completed 20 out of 20 < Question 17 of 20 Which statement is NOT a common argument against free trade? It causes jobs to be lost to foreign competition. It prevents infant industries from becoming competitive in world markets. It causes prices of imported goods to rise. It causes environmental damage due to fewer regulations abroad.During the last 20 to 30 years, there have been a number of countries whose economies have experienced important economic expansion and development. One group of countries has been labeled the BRIC countries and the other the VISTA countries. Identify each of the nine countries and provide some insights about their economies and economic importance. The theories of absolute and comparative advantage have been offered as an economic rationale for trade between and among regions and countries. Compare and contrast the two concepts. Which of the two do you think is more important for explaining the growth in global trade during the last 25 years? Why”A nation's ability to produce a product more efficiently than another country is referred to as globalization. foreign trade. interdependence. comparative advantage.
- The more dissimilar two cultures are, the greater the degree of influence culture has on intercultural communication. How strongly intercultural communication has affected the business worldwhich of the four options best represents specialization and its relationship with trade? absolute advantage economic crises comparative advantage all the aboveHow does specialization increase production?
- Which of the following statements is not correct? Trade allows for specialization. Trade has the potential to benefit all nations. Trade allows nations to consume outside of their production possibilities curves. Absolute advantage is the driving force of specialization.According to the theory of comparative advantage, countries gain from trade because Group of answer choices World output can rise when each country specializes in what its does relatively best. All firms can take advantage of cheap labor. Output per worker in each firm increases. Every country has an absolute advantage in producing something. Trade makes firms behave more competitively, reducing their market powerWhen Ozland closes off to trade, it notices that the number of firms in an industry doubles in size. What economic theory would help us explain this phenomenon? Stolper-Samuelson. Melitz. Ricardian. Cournot.
- When Ozland closes off to trade, it notices that the number of firms in an industry doubles in size. What economic theory would help us explain this phenomenon? Stolper-Samuelson. Melitz. Ricardian. Cournot. Explain your answer in up to 200 words and using a diagramWhich of the following is true of foreign trade zones? These are areas that are physically outside U.S. soil but are considered to be inside U.S. commerce. Goods entering foreign trade zones are subject to duty until they leave the zones. Federal government has made it mandatory for U.S. companies to set up manufacturing plants within the foreign trade zones. Companies that have set up manufacturing plants within the foreign trade zones are free from paying duty on defective materials.When Ozland closes off to trade, it notices that the number of firms in an industry double in size. What economic theory would help us explain this phenomenon? Stolper-Samuelson. Melitz. Ricardian. Cournot. please explain answer and a diagram
