One of the Basic Principles of International Trade Refers to How

question 15

Multiple Choice

One of the basic principles of international trade refers to how states produce what they are best at producing and then trading the surplus for other goods.This is also known as

• A) surplus trade rules.
• B) export controls.
• C) comparative advantage.
• D) none of the above.

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Definitions:

Shareholders

Individuals or entities that own one or more shares of stock in a public or private corporation, giving them rights to dividends and a voice in corporate governance.

Corporation

A legal entity recognized by law, distinct from its owners, with rights to own property, sue or be sued.

Accounting System

A structured process used to collect, record, classify, summarize, and interpret financial information for decision making.

Classifies

To arrange or categorize entities based on shared characteristics or criteria.