Trade Due to Expanded Markets Differs from Trade Due to Comparative

question 11

Multiple Choice

Trade due to expanded markets differs from trade due to comparative advantage in that

• A)the gains from trade due to expanded markets do not rely on differences in efficiencies.
• B)the gains from trade due to comparative advantage do not rely on efficiencies.
• C)trade due to expanded markets tends to be interindustry trade.
• D)trade due to comparative advantage tends to be intraindustry trade.
• E)trade due to expanded markets relies on factor abundance.

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Definitions:

Creative Solutions

Innovative or imaginative outcomes that solve problems or address challenges in unique and effective ways.

Production Blocking

A phenomenon where group processes inhibit individual members from contributing ideas or content simultaneously.

Evaluation Apprehension

Anxiety or concern felt by individuals when they believe they are being assessed by others, which can influence their performance and participation.

Groupthink

is a psychological phenomenon where the desire for harmony and conformity in a group results in an irrational or dysfunctional decision-making outcome, with members minimizing conflict and reaching a consensus without critical evaluation.