Gains from Trade

question 44

Multiple Choice

Gains from trade

• A) occur when one party to the trade has an absolute advantage in both goods.
• B) result in being able to consume beyond the trading individuals' production possibilities frontiers.
• C) occur when people do not specialize.
• D) occur when opportunity costs are equal.
• E) always benefit one party but not the other party of any trade.

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Definitions:

Seven-segment LED Display

An electronic display device used to show digits and some alphabetic characters, made of seven individual light emitting diodes (LEDs) arranged in a rectangular pattern.

Ungrounded Type

Refers to an electrical system or circuit that does not have a direct physical connection to the earth, affecting fault detection and safety characteristics.

Shield Grounded

Refers to a technique in which the shield of a cable is connected to ground to protect the signal within from electromagnetic interference.