________ Argues That Increasing Returns to Scale, Especially Economies of Scale

question 26

Multiple Choice

________ argues that increasing returns to scale, especially economies of scale, are important for superior international performance in industries that succeed best as their production volume increases.

• A)Comparative theory
• B)Competitive theory
• C)Cost-advantage theory
• D)New trade theory

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Definitions:

Rawls

A philosopher known for his theory of justice as fairness, emphasizing equal basic rights, equality of opportunity, and the prioritization of the least advantaged in society.

Traits

Characteristics or attributes that can be inherited or acquired, distinguishing one individual from another.

Basic Structure

A framework underlying the organization or system that defines its core and essential components.

Social Institutions

Complexes of norms, behaviors, and social structures that fulfill societal needs, such as family, education, and government.