Examlex

Solved

Which of the Following Is True of SOA

question 26

Multiple Choice

Which of the following is true of SOA?

Recognize leading exports and imports of the United States and other countries, and the importance of service exports.
Understand the principles of absolute and comparative advantage as proposed by Adam Smith and David Ricardo.
Recognize the benefits of specialization and trading based on comparative advantage.
Identify how resource endowments influence a nation's trade patterns.

Definitions:

Inventory

The total amount of goods and materials held by a company to support production, fulfill orders, and maintain service levels.

Related Questions