If Two Countries Begin Trade and Both Produce a Product

question 3

Multiple Choice

If two countries begin trade and both produce a product subject to internal economies of scale, then the country with the ________ rate of production will ________ production until it controls ________ of the market.

• A) higher; increase; 50%
• B) higher; increase; 100%
• C) higher; decrease; 0%
• D) lower; increase; 50%
• E) lower; increase; 100%

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Definitions:

Narcissist

An individual exhibiting excessive self-love or self-centeredness, often associated with a lack of empathy and a need for admiration.

Grandiose View

An inflated self-concept, often characterized by overestimations of one’s importance, abilities, or achievements.

Self-Serving Bias

The common tendency to attribute positive outcomes to one's own character but attribute negative outcomes to external factors.

Ought Self

The representation of what an individual believes they should be, often influenced by societal and familial expectations.