Which of These Groups Can Benefit from Trade? I

question 64

Multiple Choice

Which of these groups can benefit from trade? I. firms II. consumers III. workers

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

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Definitions:

Simple Event

In probability, a single outcome of an experiment or a situation where there is no combination of outcomes involved.

Event

An occurrence or outcome in a statistical experiment or study that can be distinctly identified.

Probability

A measure of the likelihood that an event will occur, often quantified as a number between 0 and 1.

Relative Frequency

The ratio of the number of times a value occurs compared to the total number of observations.