Specialization and Exchange Result from Differences in Productivity That Lead

question 102

Multiple Choice

Specialization and exchange result from differences in productivity that lead to

• A) opportunity cost.
• B) comparative advantage.
• C) absolute advantage.
• D) self-sufficiency.

---

Definitions:

Imperialism

The policy or practice of extending a country's power and influence through colonization, use of military force, or other means.

Nation's Economy

A nation's economy encompasses the system of production, distribution, and consumption of goods and services within a particular country, reflecting its wealth and development.

Global Commodity Chain

The worldwide network of production and distribution processes through which a product passes until it reaches the consumer.

Transnational Commodification

The process by which goods, services, or ideas are marketed and sold across national borders, turning them into commodities within the global marketplace.