The Figure Given Below Represents the PPC in Two Nations

question 71

True/False

The figure given below represents the PPC in two nations - Germany and Korea, producing only two goods, cars and food.Figure 2.4

-Gains from trade can be realized if each country specializes in the production of a good in which it has a comparative advantage.

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Definitions:

TV Commercials

Short segments of television programming produced and paid for by organizations to convey marketing messages to viewers.

Capital

Financial assets or the financial value of assets, such as funds held in deposit accounts, as well as the physical factors of production including machinery used to produce goods.

Resource

An economic or productive factor required to accomplish an activity, or to produce goods and services.

Economists

Professionals who study the production, distribution, and consumption of goods and services, and analyze economic issues and behaviors.