__________ Refers to Lower Production Costs Resulting from Greater Production

question 30

Multiple Choice

__________ refers to lower production costs resulting from greater production for an enlarged market.

• A)Production creation
• B)Trade diversion
• C)Internal economies of scale
• D)External economies of scale
• E)Factor mobility

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Definitions:

Personality

The combination of characteristics or qualities that form an individual's distinctive character, influencing thoughts, feelings, and behaviors.

Intelligence

The ability to learn, understand, and apply knowledge, to reason and solve problems, and to adapt to new situations.

Weight

A measure of the mass of an object or individual, often used in a health context to discuss body mass and its implications for well-being.

Niche-picking

The process by which individuals select environments or experiences that complement their inherited tendencies or skills.