Examlex

Solved

In Addition to the Benefits of Allowing the World to Produce

question 25

Essay

In addition to the benefits of allowing the world to produce more total output than if countries were self-sufficient, list three other benefits of international trade.


Definitions:

Authority to Sell

The legal power granted, usually to an agent, to transfer the ownership of property from the seller to the buyer.

Computerized Checkout

A system used in retail stores for completing sales transactions electronically, typically involving scanning items and automatic calculation of total price.

Contract with Wholesalers

An agreement between a producer and entities that buy products in bulk, intending to distribute them further.

Undisclosed Principal

In an agency relationship, a principal whose identity is not revealed to the third party by the agent.

Related Questions