What Might Result in the Absence of Trade, If Certain

question 121

Multiple Choice

What might result in the absence of trade, if certain products have small national markets?

• A) The variety of products available to consumers increases.
• B) Limited demand for such products leads to non-realization of economies of scale.
• C) Each nation will specialize in producing a narrower range of products than it would in the presence of trade.
• D) At low volumes of production, unit costs and prices would be lowered.
• E) The first movers in an industry may get a lock on the world market that discourages subsequent entry.

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Definitions:

Autonomous Cooperation

A concept where individuals or systems operate independently but collaborate towards a common goal without centralized control.

Preconventional Morality

The first level in Kohlberg's theory of moral development, where behavior is guided by punishment avoidance and self-interest.

Conventional Morality

A stage in moral development where individuals make decisions based on societal norms and laws.

Conventional Morality

A stage of moral development where individuals make judgments based on societal rules and norms concerning right and wrong.