What other economic process needs to accompany international trade, for nations to benefit from such trade?
A. Specialization in production
B. Nationalization of industries
C. Regulation of production and trade
D. Spreading out of resources in more industries
A. Specialization in production
You might also like to view...
Which of the following scenarios demonstrates price discrimination?
A. Bananas at the grocery store are sold for $0.69 per pound. B. Tickets to a play are sold for $15 for students and $25 for adults. C. General admission concert tickets are sold for $40. D. Strawberries are sold for $2.00 per quart in the early summer and $5.00 per quart in the winter.
Foreign direct investment outflows have a positive impact on workers in the home country.
Answer the following statement true (T) or false (F)
What does a perfectly competitive firm do to maximize profits?
What will be an ideal response?
If one person's consumption of a good does not preclude another's consumption, the good is said to be
A. excludable. B. rival in consumption. C. nonrival in consumption. D. nonexcludable.