Which of the Following Is a Result of Certain Products

question 106

Multiple Choice

Which of the following is a result of certain products having small national markets,in the absence of trade?

• A)The variety of products available to consumers increases.
• B)Limited demand for such products leads to non-realization of economies of scale.
• C)Each nation will specialize in producing a narrower range of products than it would in the presence of trade.
• D)At low volumes of production,unit costs and prices would be lowered.
• E)The first movers in an industry may get a lock on the world market that discourages subsequent entry.

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Definitions:

Retirement Savings

Funds accumulated for retirement, often involving tax advantages, through vehicles such as 401(k) plans, IRAs, or annuities.

AGI

Adjusted Gross Income, an individual's total gross income minus specific deductions, used in the United States tax system to determine taxable income.

Dependent Daughters

This term is not an official tax term but generally refers to daughters who qualify as dependents on someone's tax return due to financial support and other IRS criteria.

AGI

Adjusted Gross Income, which is gross income minus allowable deductions, used to determine taxable income on an individual's federal income tax return.