Which of the Following Is True of Exchange

question 100

Multiple Choice

Which of the following is true of exchange?

• A) Exchange is a zero sum activity; if one party to an exchange gains, the other must lose an equal amount.
• B) The exchange value of a good is determined by the cost of the resources required to produce the good.
• C) The total output trading partners are able to produce is not influenced by whether the partners trade with each other.
• D) Exchange permits trading partners to expand their total output of goods and services as the result of greater specialization in areas where each has a comparative advantage.

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Definitions:

Upgrading

Upgrading involves updating or enhancing a system or software version to add features or improve performance.

Crash

An unexpected failure of a computer program, causing it to close suddenly or stop functioning properly.

Activation

The process of making a software program or service fully operative and licensed for use.

Piracy

It refers to the unauthorized use or reproduction of another's work, such as software, music, videos, or books.