Autarky Is a Situation in Which a Country

question 90

Multiple Choice

Autarky is a situation in which a country

• A)only exports products.
• B)only imports products.
• C)does not trade with other countries.
• D)has no absolute advantage in any production.

Acknowledge the role of technological innovations like water desalinization and fracking in economic advantage.

Recognize the significance of Regional Trade Agreements (RTAs) and examples like the European Union (EU).

Understand the impact of reduced order cycle times on supply chain management.

Understand the balance between security and efficient global commerce flow.

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Definitions:

Typical Welfare Family

A reference to the average household receiving government assistance to support its basic needs.

Single Woman

An adult female who is not married.

Federal Minimum Wage

The lowest legal hourly wage that an employer can pay to workers in the United States, set by federal law.

Poverty Problem

A social issue involving a lack of financial resources that is enough to meet the basic needs such as food, clothing, and shelter.