An Economic Principle That Explains Why Countries Produce Different Goods

question 118

Multiple Choice

An economic principle that explains why countries produce different goods and services is

• A)absolute advantage.
• B)trade as a percentage of GDP.
• C)comparative advantage.
• D)NAFTA.

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Definitions:

Middle Managers

Individuals in an organization who manage the work of subordinate employees and report to a higher level of management.

Interpreting Policies

The act of understanding and explaining the meaning and implications of organizational rules and guidelines.

Long-Time Perspective

An approach that focuses on long-term outcomes and goals rather than immediate or short-term results.

Same Job

A position or role within an organization or field that has identical responsibilities, tasks, and requirements as another.