A Country Can Gain by Importing a Good That It

question 143

Multiple Choice

A country can gain by importing a good that it can make itself if

• A)this enables the country to make another good in which it is extremely efficient.
• B)it has an absolute disadvantage in the good.
• C)this permits the country to establish comparative advantage in the good.
• D)All of the above are correct.

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Definitions:

Tactical Strategy

Short-term focused actions and plans developed to achieve specific parts of a larger strategic goal.

Strategy Formulation

The process of creating strategies to achieve organizational goals, typically involving analysis, planning, and decision-making.

Strategic Crafting

The deliberate planning and adjustment of strategies to better align with the changing business environment, ensuring an organization remains competitive and effective.

Strategic Outsourcing

The process of contracting out specific business functions or processes to a specialized external service provider in order to improve efficiency, reduce costs, or focus on core competencies.