Suppose That a Country That Has a High Average Wage

question 28

Multiple Choice

Suppose that a country that has a high average wage level agrees to trade with a country that has a low average wage level.Which country can benefit?

• A)only the one with a low level of output per person.
• B)only the one with a high level of output per person.
• C)both
• D)neither

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Definitions:

Operational Effectiveness

The ability of an organization to execute its operations more efficiently than its competitors, often by optimizing internal processes.

Cost Leader

A strategy or company that aims to achieve a competitive advantage by reducing operational costs and offering lower prices than competitors.

Efficiently

Performing or functioning in the best possible manner with the least waste of time and effort.

Customer Oriented

A business strategy focusing on creating a positive experience for customers through services and products tailored to their needs and feedback.