Which of the Following Attributes of Trade Explain Why It

question 202

Multiple Choice

Which of the following attributes of trade explain why it is important for economic prosperity?

• A) Trade moves goods from people who value them less to people who value them more.
• B) Trade makes it possible to produce a larger output as a result of lower per unit costs that often accompany large-scale production.
• C) Trade makes it possible to produce a larger output as a result of gains from division of labor and specialization.
• D) All of the above.

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Definitions:

Promotion

The act of raising someone to a higher position or rank, or the process of advertising a product, event, or service to increase sales or public awareness.

Public Policy

Government policies developed to address issues of public concern, influenced by the public's values and goals.

Exculpatory Clause

A clause in a contract that exempts a party from responsibility for any damages that occur while the contract is being carried out.

False Statements

A statement that is not true or does not accurately reflect reality.