In the Real World, We Don't Observe Countries Completely Specializing

question 103

Multiple Choice

In the real world, we don't observe countries completely specializing in the production of goods for which they have a comparative advantage.One reasons for this is

• A)comparative advantage works better in theory than in practice.
• B)because some countries also have an absolute advantage in the production of those goods.
• C)tastes for many traded goods are similar in many countries because of globalization.
• D)production of most goods involves increasing opportunity costs.

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The highest level in Maslow's hierarchy of needs, representing the realization of an individual's potential, self-fulfillment, seeking personal growth, and peak experiences.

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