The Economic Philosophy That Favors Strict Limits on Imports and Strong

question 7

Multiple Choice

The economic philosophy that favors strict limits on imports and strong support for exports is called

• A)zero sum.
• B)autarky.
• C)mercantilism.
• D)comparative advantage.
• E)absolute advantage.

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Definitions:

Socially Constructed

Socially constructed refers to the idea that society and culture create and maintain beliefs, behaviors, and norms, rather than these aspects being inherently natural or biological.

Economic Relationships

The interactions and connections between individuals, institutions, and countries regarding the production, distribution, and consumption of goods and services.

Alienation

A state of estrangement or disconnection from others, one's work, or oneself, often resulting in feelings of isolation or disempowerment.

Ritualize

The act of infusing actions or practices with customary or routine significance, often turning them into formal rites or ceremonies.