Which of the Following Attributes of Trade Explain Why It

question 202

Multiple Choice

Which of the following attributes of trade explain why it is important for economic prosperity?

• A) Trade moves goods from people who value them less to people who value them more.
• B) Trade makes it possible to produce a larger output as a result of lower per unit costs that often accompany large-scale production.
• C) Trade makes it possible to produce a larger output as a result of gains from division of labor and specialization.
• D) All of the above.

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Definitions:

Audiometer

An electronic device that measures hearing acuity by producing sounds in specific frequencies and intensities.

Frequency

The number of complete fluctuations of energy per second in the form of waves.

Tinnitus

A condition characterized by the perception of noise or ringing in the ears when no external sound is present.

Cerumen

A wax-like substance produced by glands in the ear canal; also called earwax.