The Main Reason Why One Nation Trades with Another Is

question 136

Multiple Choice

The main reason why one nation trades with another is to

• A)save its natural resources from rapid depletion.
• B)exploit the advantages of specialization.
• C)eliminate the danger of retaliation from other nations.
• D)improve political alliances.

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Definitions:

Deming

Refers to W. Edwards Deming, a statistician and quality control expert who developed principles for improving business processes and product quality.

Pareto Analysis

A statistical technique in decision-making used to select a limited number of tasks that produce significant overall effect.

TQM Tool

A technique, method, or process used in Total Quality Management to improve quality and performance in an organization.

Continental Hot Spot

An area on a continent where hot plumes of mantle material rise, potentially causing volcanic activity and thermal features.