Even If There Are Big Gains to Be Had from Specialization

question 105

Multiple Choice

Even if there are big gains to be had from specialization and trade, countries generally don't produce only one good because:

• A)specialization is not limited by trade agreements.
• B)no national economy is a perfectly free market.
• C)there is perfectly free trade between national economies.
• D)consumers prefer a mix of goods and services.

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Definitions:

Police Officers

Police officers are law enforcement personnel who are responsible for maintaining public order, enforcing laws, and preventing, detecting, and investigating crimes.

Logical Strength

A measure of the extent to which the premises of an argument support its conclusion.

Property P

A generic property or characteristic, often used in philosophical or logical examples to denote an arbitrary attribute.

Individual Freedom

The right or capacity of individuals to act autonomously, without coercion or constraint from others.