Nations Following the Theory of ________ Believed That the World's

question 71

Multiple Choice

Nations following the theory of ________ believed that the world's wealth was limited and that a nation could increase its share of the pie only at the expense of its neighbors.

• A) absolute advantage
• B) comparative advantage
• C) mercantilism
• D) factor proportions

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Definitions:

Stereotypes

Stereotypes are oversimplified and widely held beliefs or ideas about the characteristics, behaviors, and roles of certain groups or types of people, often based on minimal or no evidence.

Social Schemas

Cognitive frameworks that help in organizing social information based on past experiences and social norms.

Social Schema

A mental framework that enables individuals to organize and interpret social information.

Fundamental Attribution Error

The tendency to overemphasize personality-based explanations for others' behaviors in situations, while underemphasizing the role of external factors.