Gains from Trade Are Based on _____ Rather Than

question 22

Multiple Choice

Gains from trade are based on _____ rather than:

• A) opportunity cost; specialization.
• B) comparative advantage; absolute advantage.
• C) absolute advantage; specialization.
• D) specialization; comparative advantage.

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Definitions:

Knights Of Labor

A labor organization founded in 1869 that advocated for the rights of workers and sought broad social reforms.

American Federation Of Labor

A national federation of labor unions in the United States founded in 1886, focused on advocating for the rights of skilled workers.

Frederick Taylor

An American mechanical engineer and management consultant who is considered the father of scientific management, focusing on improving industrial efficiency.

Working Conditions

The surroundings or environment in which an individual performs their job, including aspects like safety, hours, and physical demands.