One Benefit of Trade Is That It

question 140

Multiple Choice

One benefit of trade is that it:

• A) increases the division of knowledge because trade makes people more self-sufficient, producing more of what they consume.
• B) allows for increased specialization and mass-production techniques that lower per unit costs of production.
• C) lowers productivity, leading to greater domestic employment.
• D) decreases economies of scale, making production more efficient.

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Definitions:

Immaterial Labor

Labor that does not produce things per se but that produces the informational and cultural content of commodities.

Consumption-Based Economy

An economic system primarily driven by consumer spending on goods and services, with economic health measured by the level of consumption activity.

Donald Roy

An American sociologist known for his studies on industrial sociology and labor practices, particularly his work on "banana time" and informal workgroup culture.

Ethnography

A qualitative research method focused on the systematic study of people and cultures from the insider’s perspective, through observation and interviews.