In Addition to Realizing the Benefits of Specialization According to Comparative

question 53

Multiple Choice

In addition to realizing the benefits of specialization according to comparative advantage,a nation that engages in international trade and specialization may realize benefits from

• A)economies of scale and learning by doing.
• B)diseconomies of scale and learning by doing.
• C)learning by doing and increased opportunity costs.
• D)a devaluation of its currency.
• E)a less diversified economy.

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Definitions:

Fear

An emotional response to perceived dangers or threats, which can influence attitudes and behaviors.

Conformity

The act of matching attitudes, beliefs, and behaviors to group norms or standards.

Creativity

The generation of new, original, and useful ideas that contribute to solving problems or creating value.

Loyalty

A strong feeling of support or allegiance towards someone or something, often based on shared values or experiences.