Which of the Following Statements Is TRUE About Trade

question 29

Multiple Choice

Which of the following statements is TRUE about trade?

• A) Everyone can benefit from trade, even people who trade with someone from a foreign country.
• B) Comparative advantage is based on specializing in products that have a high opportunity cost of production.
• C) If a person can do everything better than anyone else, there is no reason for that person to trade with others.
• D) Trade makes one party better off but the other party worse off, so there is no net gain to society.

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Definitions:

Clinical Interview

A structured interaction between a clinician and a client used to gather personal, psychological, and medical history for diagnostic and treatment purposes.

Personality Assessment

A procedure or test designed to measure personality attributes, traits, and behaviors to understand or predict an individual's psychological functioning.

Achievement Test

A standardized test designed to measure an individual's level of skill, proficiency, or knowledge in a specific area.

Cultural and Ethnic Samples

Groups of individuals selected for study or analysis based on their shared cultural or ethnic backgrounds.