Benefits from International Trade Are Based on Differences in the Following

question 165

Multiple Choice

Benefits from international trade are based on differences in the following areas, except

• A) resource endowments.
• B) technological capabilities.
• C) product quality and other attributes.
• D) income levels.

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Definitions:

Coal

A combustible black or brownish-black sedimentary rock used primarily as a fuel in the production of electricity and heat, formed from plant remains over millions of years.

Oil

A viscous liquid derived from petroleum, used as fuel and in the manufacture of various goods.

Natural Gas

An energy-producing fossil fuel that predominantly contains methane, utilized for heating, cooking, and generating electricity.

Net Energy Ratio

A metric that compares the amount of energy produced to the amount of energy used to produce it.