If the World Price of Textiles Is Higher Than Vietnam's

question 203

Multiple Choice

If the world price of textiles is higher than Vietnam's domestic price of textiles without trade,then Vietnam

• A) should import textiles.
• B) has a comparative advantage in textiles.
• C) should produce just enough textiles to meet its domestic demand.
• D) should refrain altogether from producing textiles.

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Definitions:

Span of Control

The number of subordinates or direct reports that a manager or leader has authority over, affecting management efficiency and organizational structure.

Horizontal Specialization

The division of work in an organization into specialized tasks or roles that are at the same hierarchical level, promoting expertise in specific areas.

Common Forms

Standard or widely recognized types or methods of something, such as communication, art, or documents.

Environmental Complexity

The magnitude of the problems and opportunities in the organization’s environment as evidenced by the degree of richness, interdependence, and uncertainty.