When Both Exports and Imports Are Considered, the Major Advantage

question 4

Multiple Choice

When both exports and imports are considered, the major advantage of international trade is that it allows us to:

• A)sample foreign products that many of us would otherwise never see.
• B)​consume a larger, more diverse quantity of goods and services at lower prices than would otherwise prevail.
• C)​share our technology and efficiency with less-developed countries that would otherwise never have the opportunity to observe modern goods and services.
• D)​maintain jobs for workers who would otherwise have little to do.

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Definitions:

Trade Unions

are organizations formed by workers from various trades for the purpose of promoting their rights and interests through collective bargaining.

Industrial Society

An industrial society is characterized by the extensive use of industries and machinery for the production of goods and services, leading to significant social and economic changes.

Large Cities

Urban areas with substantial populations, typically featuring a high density of development and complex social, economic, and infrastructure systems.

Agricultural Society

A community chiefly engaged in the production of food through agriculture, emphasizing the importance of farming and cultivation in its economy and culture.