Which of the Following Is Not an Effect of Engaging

question 24

Multiple Choice

Which of the following is not an effect of engaging in international trade?

• A)Altered prices in different countries
• B)Altered labor markets in different countries
• C)Increased number of goods and services we can consume in different countries
• D)Less efficient use of resources

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Definitions:

Marginal Product

The additional output that is produced by adding one more unit of a variable resource, such as labor or capital, to the production process.

Average Product

The output produced per unit of a factor of production, calculated by dividing total product by the quantity of the input.

Textile Firm

A textile firm is a company that specializes in the production and distribution of fabrics and fabric-based products.

Marginal Product

The additional output that is produced by using one more unit of a particular input while keeping other inputs constant.