Use the Accompanying Table to Answer the Following Questions

question 89

Multiple Choice

Use the accompanying table to answer the following questions:
Table 3-6

-Refer to Table 3-6.England and Spain both could benefit,relative to a situation in which neither country is specializing,by England specializing in

• A)bread and Spain specializing in cheese.
• B)cheese and Spain specializing in bread.
• C)both goods and Spain specializing in neither good.
• D)neither good and Spain specializing in both goods.

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Definitions:

Restrictive Trade Practices

Business practices that restrict trade to the detriment of the consumer or competitors.

Competition Tribunal

A specialized court or tribunal that adjudicates matters pertaining to competition law, including antitrust and monopoly issues.

Competition Act

Legislation designed to promote fair business practices and protect consumers by preventing monopolies and promoting competition.

Bid-rigging

A form of fraud in which competitors agree in advance who will win a bidding process, thus undermining the competition.