In Addition to Reaping the Benefits of Specialization According to Comparative

question 67

Multiple Choice

In addition to reaping 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)a less diversified economy.
• D)a devaluation of its currency.
• E)learning by doing and increased opportunity costs.

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Definitions:

Ambidextrous Organization

An organization that is capable of simultaneously exploiting its current capabilities while exploring new opportunities, thereby balancing efficiency and innovation.

Strategic Control

A management process used to track the strategy as it is being implemented, detecting any problem areas or potential improvements.

Virtual Organization

Describes a network of independent organizations, resources, or individuals that function and appear as a single entity through the use of digital technologies.

Holacracy

A method of decentralized management and organizational governance, where decision-making is distributed to self-organizing teams rather than being centralized in a traditional management hierarchy.