What Is the Result When a Country Can Produce Goods

question 78

Multiple Choice

What is the result when a country can produce goods more efficiently or better than other nations?

• A) Balance of trade deficit
• B) Absolute advantage
• C) Increased globalization
• D) Comparative advantage
• E) National competitive advantage

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Definitions:

Long Term Strategic

Pertaining to long-range planning and actions aimed at achieving major goals or objectives.

Marketing Costs

Expenses related to promoting, selling, and distributing a product or service.

Design Costs

Expenses incurred during the planning and development phase of a product, including labor, materials, and overhead associated with creating the design.

Research and Development

Activities undertaken by companies or governments in innovation and improvement of services or products.