Which of the Following Is a Result of Trade Creation

question 102

Multiple Choice

Which of the following is a result of trade creation?

• A) The demand for goods tends to increase.
• B) Purchasing power of consumers decreases.
• C) Consumers have a limited choice for selection of goods.
• D) Imported goods are seldom available at lower prices.

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Definitions:

Self-serving Bias

A cognitive bias where individuals attribute their successes to internal factors and their failures to external factors.

Blindness of Involvement

The phenomenon where individuals become so engrossed in their own perspective or role that they are unable to understand or see the situation from another's viewpoint.

Development Process

A systematic approach to creating or improving a product, service, or concept from initial idea through final realization.

De-escalate

To reduce the intensity or severity of a conflict or potentially volatile situation.