By Engaging in Trade and Acting in Their Own Self

question 58

Multiple Choice

By engaging in trade and acting in their own self interest, World War II POWs were following the economic principle of

• A) comparative advantage.
• B) division of labor.
• C) international trade.
• D) voluntary exchange.

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Definitions:

Mean

The average value of a set of numbers, calculated by dividing the sum of the numbers by the count of the numbers.

Normal Curve

A symmetrical bell-shaped curve representing the distribution of values, traits, or characteristics that are normally distributed.

Standard Deviation

A measure of the dispersion or variation in a set of values, indicating how much the values differ from the mean.

Mean

The arithmetic average of a set of numbers, calculated by summing them and dividing by the number of numbers.