The Opportunity to Exploit Economies of Scale Is One of the Gains

question 7

Multiple Choice

The opportunity to exploit economies of scale is one of the gains to be derived by removing tariffs and other trade distortions. These gains will be the result of a decrease in

• A) world prices of imports.
• B) the consumption distortion loss triangle.
• C) the production distortion loss triangle.
• D) international labor mobility.
• E) excessive entry and inefficient business practices.

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Definitions:

Diverse Groups

Collections of individuals with varying characteristics, backgrounds, experiences, and identities, which can enrich group dynamics and outcomes.

Roles

Positions in a group that have a set of expected behaviors attached to them.

Loyalty Norms

Expected behaviors or attitudes that promote allegiance and support within a group or organization.

Surface Diversity

Visible differences among members of a group, including age, ethnicity, gender, physical abilities, and race, without necessarily reflecting deeper variations in values or beliefs.