Which of the Following Explains Why the World Market May

question 76

Multiple Choice

Which of the following explains why the world market may support only one or two firms worldwide?

• A) large economies of scale
• B) comparative advantage
• C) learning by doing
• D) constant returns to scale

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Definitions:

Botulism Poisoning

A rare but serious illness caused by a toxin that attacks the body’s nerves and can result in difficulty breathing, muscle paralysis, and even death.

Breach of Contract

The violation of a legal agreement between parties, where one party fails to fulfill their promised obligations, leading to legal consequences.

Tort

A civil wrong that causes a claimant to suffer loss or harm, resulting in legal liability for the person who commits the tortious act.

Gas Main

The primary pipeline through which natural gas is transported to residential, commercial, or industrial premises.