Which of the Following Groups Gain from International Trade

question 31

Multiple Choice

Which of the following groups gain from international trade?
i. Producers of exported goods
ii. Domestic consumers of imported goods
iii. Workers in exporting firms

• A) i only
• B) ii only
• C) iii only
• D) i and iii
• E) i, ii and iii

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Definitions:

Value Chain

A sequence of activities that a company performs to design, produce, market, deliver, and support its products.

R&D

Research and Development, which refers to the activities companies undertake to innovate and introduce new products or services.

Product Design

The process of creating a new product to be sold by a business to its customers, focusing on specifications, functionality, and appearance.

Period Cost

Expenses that are not directly tied to production activity and are instead associated with a specific time period, like rent or utilities.