One Advantage of the Specialization That Results from International Trade

question 8

Multiple Choice

One advantage of the specialization that results from international trade is that countries can take advantage of

• A) scale economies.
• B) taste reversals.
• C) production diversification
• D) smaller countries.
• E) lower transport costs.

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Definitions:

Syllogism Validity

The measure of whether a deductive argument is logically sound, where the conclusion necessarily follows from the premises if they are true.

Traditional View

This refers to beliefs, values, or practices that have been handed down within a culture or society over generations.

Existential Import

The attribute of a propositional statement implying the existence of at least one instance of the subject matter.

Traditional View

A perspective or belief that places value on ideas, customs, and institutions that have been established and validated over time.