What Matters Most in Determining the Efficient Distribution of Production

question 38

Multiple Choice

What matters most in determining the efficient distribution of production over the world is

• A)​absolute advantage.
• B)​efficiency.
• C)​the stock of resources.
• D)​comparative advantage.

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Definitions:

Adjusting Entries

Journal entries made at the end of an accounting period to allocate revenue and expenses to the period in which they actually occurred.

Accounts

Records within an accounting system that are used to store and summarize transactions related to specific assets, liabilities, equity, revenue, and expenses.

Financial Statements

Reports that summarize the financial performance and position of a company, including the balance sheet, income statement, and cash flow statement.

Trial Balance

A bookkeeping report that lists the balances of all ledgers and accounts to check that debits equal credits.