Which of the Following Statements Is TRUE? I

question 148

Multiple Choice

Which of the following statements is TRUE? I. If a country does not trade, its knowledge is approximately equal to that used by one brain. II. The basic idea of trade is to buy the things that would cost you a lot to make, and sell the things that you can make at a low opportunity cost. III. Trade leads to specialization, which in turn increases in productivity.

• A) II and III only
• B) III only
• C) II only
• D) I, II, and III

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Definitions:

Accurate

Free from errors or mistakes; precise and correct in all details.

Knowledge-based Subgroups

Groups within an organization or community formed around specific sets of expertise or knowledge areas.

Technical Jargon

Specialized language or terms used within a specific field or profession, often incomprehensible to those outside the domain.

Shared Mental Models

Cognitive frameworks that are held in common by members of a group, allowing them to interpret information and respond to situations in a unified manner.