Why Does It Make Sense to Trade with Other Nations

question 215

Multiple Choice

Why does it make sense to trade with other nations?

• A) After producing all the product and service its people want and need, a nation can sell the excess products to the world.
• B) Some nations have lots of natural resources and technological know-how. They have an ethical obligation to offer the rest to other nations.
• C) Other nations need foreign currency.
• D) A nation will produce what it can produce most efficiently and effectively and buy from other nations what they can produce most efficiently and effectively.

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Definitions:

Cost Savings

Represents the actions that reduce expenses or costs within an organization in order to improve profitability without compromising the quality of products or services.

Cost Overrides

Expenses that exceed the original budget allocations for projects or initiatives.

Vendor Package

A set of goods or services offered by a vendor, often as a bundled solution to meet specific business needs.

English-speaking Population

Refers to the segment of the global population that speaks English, either as a native or second language.