The Principle That Trade Can Make Everyone Better Off Applies

question 9

Multiple Choice

The principle that trade can make everyone better off applies to

• A)individuals.
• B)families.
• C)countries.
• D)All of the above

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Definitions:

Technology

The application of scientific knowledge for practical purposes, especially in industry, where it drives innovation and efficiency in production processes.

Inequality

A measure of how income, wealth, or opportunities are distributed unevenly among members of a society.

Education

The systematic process of facilitating learning, or the acquisition of knowledge, skills, values, and habits through various methods.

Human Capital

The abilities, understanding, and practical experiences that an individual or community has, as seen in their economic or valuable contribution to a corporation or state.