Autarky Is: ​

question 93

Multiple Choice

Autarky is: ​

• A)the situation of national self-sufficiency,in which there is no economic interaction with foreign producers or consumers.
• B)the situation in which there is no legal limit on the amount of a commodity that can be imported.
• C)the situation in which countries export products they can produce more cheaply in return for products that are unavailable domestically or are cheaper elsewhere.
• D)the situation in which world price is determined by the world supply and demand for a product.
• E)the situation in which each country specializes in making goods with the lowest opportunity cost.

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Definitions:

Solution

A homogeneous mixture of two or more substances, where one substance (the solute) is dissolved in another (the solvent).

Cation

A positively charged ion, which results from the loss of one or more electrons by an atom.

Positively Charged

Refers to particles or objects that have more protons than electrons, resulting in a net positive electric charge.

Ion

An atom or molecule with an electric charge due to the loss or gain of one or more electrons.