The Way in Which a Country Benefits from Trade Is

question 150

Multiple Choice

The way in which a country benefits from trade is that it can

• A)obtain goods at lower opportunity cost than producing them itself.
• B)exploit economies of scale in production and lower the cost of goods it produces.
• C)obtain a wider range of goods than it can produce for itself.
• D)All of the above are benefits.

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Definitions:

Administrative Tribunals

Administrative tribunals are quasi-judicial bodies established by governments to make decisions on disputes within specific areas such as labor, immigration, or public health.

Federal And Provincial

relates to the two levels of government in countries with a federal system, where certain responsibilities and powers are divided between the national (federal) government and regional (provincial or state) governments.

Governments

Political organizations or bodies that govern a nation, state, municipality, or community, responsible for creating and enforcing laws and policies.

Solicitor-Client Costs

Solicitor-Client Costs refer to legal costs payable to a solicitor by their client, including fees for legal services performed and other expenses incurred during the representation.