Differences in Production Efficiencies Among Nations in Producing a Particular

question 1

Multiple Choice

Differences in production efficiencies among nations in producing a particular good result from:

• A)different amounts of skilled labour.
• B)different climatic conditions.
• C)different levels of technological knowledge.
• D)all of the above.

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Definitions:

Consumer Lease

A legal agreement where a consumer agrees to rent personal property, like a car or household appliance, for personal, family, or household use for a period of time.

State Statute

A written law passed by a legislative body at the state level.

Usage Of Trade

Any practice or method of dealing having such regularity of observance in a place, vocation, or trade as to justify an expectation that it will be observed with respect to the transaction in question.

Commercial Practices

Activities, methods, and ethics involved in conducting business and trading of goods and services in the marketplace.