Patterns of Specialization and Trade Are Explained By

question 182

Multiple Choice

Patterns of specialization and trade are explained by:

• A) the principle of comparative advantage.
• B) the principle of absolute advantage.
• C) people's productivity.
• D) government control and regulation.

---

Definitions:

Market Growth Rate

The annual rate of growth of the specific market in which the product competes.

Vertical Axis

In a graph or chart, the vertical line to the left side that typically represents the range of values for the variable measured.

BCG Matrix

A strategic business tool developed by the Boston Consulting Group that classifies business units or products into four categories (Question Marks, Stars, Cash Cows, Dogs) based on their market growth rate and market share.

Graphic Designers

Professionals who create visual content to communicate messages by applying visual hierarchy and page layout techniques, using typography and pictures.