Critical Thinkers Will

question 29

Multiple Choice

Critical thinkers will:

• A)Be willing to question and alter their own beliefs based on new experiences.
• B)Be willing to question what those in authority assert as fact.
• C)Question unstated assumptions underlying accepted practice wisdom.
• D)All of these.

Distinguish between absolute and comparative advantage.

Recognize how specialization based on comparative advantage benefits trading partners.

Determine which parties have a comparative or absolute advantage based on opportunity costs.

Understand the principles behind international trade and the gains from trade.

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Definitions:

Outside Opinion

Perspectives or advice coming from individuals not directly involved in a situation or issue.

Pressure To Conform

The social influence that encourages individuals to match their attitudes, beliefs, or behaviors to group norms.

Groupthink

A phenomenon in social gatherings where the quest for accord or conformity fosters the development of decisions that are unsound or maladaptive.

Critical Ideas

Fundamental concepts or opinions that are considered important for understanding or analyzing a particular field or phenomena.