Trade Can Benefit Society as a Whole Because It Allows

question 137

Multiple Choice

Trade can benefit society as a whole because it allows:

• A)people to specialise in activities in which they have a comparative advantage
• B)for a more efficient use of resources
• C)for goods to be obtained at a lower opportunity cost
• D)all of the above are correct

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Definitions:

Waterways

Natural or man-made channels through which water flows, used for navigation, transportation, or irrigation.

International Technology

Technology that is globally integrated or utilized around the world, often implying technological cooperation across countries.

Cotton Industry

Refers to the sector of the economy concerned with the production, processing, and distribution of cotton as a raw material.

Sewing Industry

A sector of the economy that involves the production of clothing, textiles, and related goods, often employing manual labor and sewing machines.