Economies More Open to Foreign Trade Are More Efficient in Production

question 254

Multiple Choice

Economies more open to foreign trade are more efficient in production partly because:

• A) more open economies tend to receive more foreign aid.
• B) foreign producers are more productive than domestic producers.
• C) economies of scale occur in larger markets.
• D) property rights are less important in a more open economy.

---

Definitions:

Refreshing

The act of renewing or reviving something to make it more interesting, engaging, or up-to-date.

Marketing

The action or business of promoting and selling products or services, including market research and advertising.

Period Of Decline

A phase in which something, such as a business, economy, or physical condition, experiences a decrease in quality, quantity, or importance.

Negative Feedback

Criticisms or evaluations indicating a discrepancy between expected and actual performance, intended to prompt improvement.