When Both Exports and Imports Are Considered, the Major Advantage

question 158

Multiple Choice

When both exports and imports are considered, the major advantage of international trade is that it allows us to

• A) seclude ourselves from foreign products.
• B) consume a larger, more diverse quantity of goods and services at lower prices than would otherwise prevail.
• C) benefit at the expense of less-developed nations
• D) maintain jobs for workers who would otherwise have little to do.

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Definitions:

Human Resource Management

The strategic approach to managing people in an organization, focusing on policies and systems to maximize employee performance and well-being.

Strategic Vision

A statement about where the company is going and what it can become in the future; clarifies the long-term direction of the company and its strategic intent.

Core Values

The strong and enduring beliefs and principles that the company uses as a foundation for its decisions

Organization Reason

A principle or cause that underlies the functioning and strategic objectives of an organization.