Countries Should Specialize Only in Products in Which They Have

question 88

True/False

Countries should specialize only in products in which they have an absolute advantage.

---

Definitions:

Multilateral Organization

An organization composed of multiple countries that work together on a given issue or project.

Subsidized Loans

Loans on which the interest is either paid by another party or is not accrued, reducing the cost for the borrower, usually provided based on financial need.

Flat World

A metaphor describing a global environment where geographical and cultural barriers to communication, trade, and travel are diminishing, making the world more interconnected.

Free Access

Refers to the ability to obtain or use services without financial or restrictive barriers.