If a Nation Opens Up to Free Trade and Becomes

question 104

Multiple Choice

If a nation opens up to free trade and becomes an importer of goods,which of the following is then true?

• A) The nation as a whole loses.
• B) Sellers gain.
• C) Buyers gain.
• D) Buyers lose.

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Definitions:

Support Activity

Activities within an organization that assist in providing value to customers but do not directly contribute to the primary product or service.

Inbound Logistics

Inbound Logistics refers to the transport, storage, and delivery of goods coming into a business, an essential component of supply chain management, focusing on receiving and handling materials and supplies.

Competitive Forces Model

A business framework devised by Michael Porter that analyzes competitiveness by recognizing five major forces that could endanger a company’s position.

Value Chain Model

Model that shows the primary activities that sequentially add value to the profit margin; also shows the support activities.