Classical Trade Theory Emphasized Which of the Following as an Underlying

question 34

Multiple Choice

Classical trade theory emphasized which of the following as an underlying explanation of the basis for trade?

• A) Productivities of labor inputs
• B) Tastes and preferences among nations
• C) Changes in technologies over time
• D) Quantities of economic resources

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Definitions:

Commercial Unit

A term used in law referring to goods or property that are considered a single whole for purposes of sale or lease, often due to their interconnectedness or the context of their use.

Bales of Hay

Compacted, bound, and often wrapped bundles of hay used for feeding livestock, as bedding, or for agricultural purposes.

Accepted

Acknowledgment or agreement to the terms of an offer, thereby creating a binding contract.

Installment Delivery

The distribution of goods to a buyer in several sequential parts, each of which is accepted and paid for by the buyer over time as stipulated in a contract.