A Nation's Producers Can Compete Effectively with Imports from Other

question 75

Multiple Choice

A nation's producers can compete effectively with imports from other nations if it has

• A)high wages
• B)low wages
• C)low labor cost per unit of output
• D)less specialization
• E)low labor productivity

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Definitions:

B2B Product

Goods or services sold by one business to another, as opposed to products sold directly to consumers.

Durable Good

A type of good that does not quickly wear out and is used over a long period, such as appliances, cars, or furniture.

Consumer Product

A product intended for personal use or consumption by the general public, as opposed to products designed for industrial or commercial use.

Business Product

Goods or services that are sold primarily to other businesses for use in production, resale, or operational purposes, rather than to the ultimate consumer.