Free Trade Based on Comparative Advantage Is Economically Beneficial Because

question 13

Multiple Choice

Free trade based on comparative advantage is economically beneficial because:

• A)it promotes an efficient allocation of world resources.
• B)it increases competition.
• C)it provides consumers with a wider range of products.
• D)of all of the above reasons.

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Definitions:

Corporate Social Responsibility

A business philosophy that involves taking part in initiatives that benefit society, reflecting a company's commitment to ethical practices and contribution to economic development while improving the quality of life of the workforce and their families, as well as of the community and society at large.

Good Citizenry

The behavior of individuals or organizations that reflects commitment to the well-being of society and the environment, often going beyond legal or economic obligations.

Society

A community of individuals bound together by shared customs, laws, and social institutions, exhibiting a distinctive culture and norms.

Environment

Refers to the surrounding conditions in which an organism, organization, or system operates, including natural, social, and built contexts.