What Is NOT a Benefit from Trade

question 199

Multiple Choice

What is NOT a benefit from trade?

• A) the ability to specialize
• B) a greater variety of goods and services becoming available
• C) less competition
• D) lower prices

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Definitions:

Public Policy Implications

The effects or outcomes that governmental policies have on society, including economic, social, or environmental impacts.

Budget Line

A graphical representation of all possible combinations of two goods that a consumer can afford given their income and the prices of the goods, illustrating the concept of trade-offs.

Money Income

The total amount of monetary earnings received by an individual or household over a specific period of time, including wages, salaries, and other earnings.

Factors of Production

The inputs used in the production of goods or services, including land, labor, capital, and entrepreneurship.