The Way in Which a Country Benefits from Trade Is

question 150

Multiple Choice

The way in which a country benefits from trade is that it can

• A)obtain goods at lower opportunity cost than producing them itself.
• B)exploit economies of scale in production and lower the cost of goods it produces.
• C)obtain a wider range of goods than it can produce for itself.
• D)All of the above are benefits.

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Definitions:

Multiculturalists

Advocates or supporters of the view that societies should embrace a diversity of cultures, promoting the equal value of different cultural traditions.

National Unity

The sense of solidarity, cohesion, and pride among the citizens of a nation, fostering a collective identity and support for the nation-state, often emphasized in times of crisis or celebration.

Regulation by the Clock

Organizing daily life, work, and routines based on chronological time, often emphasizing punctuality, schedules, and time efficiency.

Mass Consumption

The widespread purchasing and use of products and services by a large number of people.