Two Countries Engaged in Trade in Products with No Scale

question 6

Multiple Choice

Two countries engaged in trade in products with no scale economies, produced under conditions of perfect competition, are likely to be engaged in

• A) Heckscher-Ohlin trade.
• B) oligopolistic competition
• C) monopolistic competition.
• D) intra-industry trade.
• E) inter-industry trade.

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Definitions:

Critical Evaluator

A person skilled in assessing situations, policies, or work critically to identify improvements or establish value.

Groupthink

Groupthink is a psychological phenomenon that occurs within a group of people when the desire for harmony or conformity results in an irrational or dysfunctional decision-making outcome.

Membership Homogeneity

Refers to the degree of similarity or uniformity within a group or organization's members.

Organizations

Entities that are comprised of individuals and resources structured and managed to pursue collective goals.