The Most Obvious Benefit of Specialization and Trade Is That

question 137

Multiple Choice

The most obvious benefit of specialization and trade is that they allow us to

• A)work more hours per week than we otherwise would be able to work.
• B)consume more goods than we otherwise would be able to consume.
• C)spend more money on goods that are beneficial to society, and less money on goods that are harmful to society.
• D)consume more goods by forcing people in other countries to consume fewer goods.

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Definitions:

Product Association

The connection or linkage of a product with certain qualities, emotions, or concepts in the minds of consumers.

Allowable Franchising

A franchising arrangement wherein the franchisor grants the franchisee the rights to operate under the brand's trade name within specific, agreed-upon terms and limitations.

Look-Alike Packaging

Packaging that closely mimics the appearance of a well-known brand's product packaging to attract consumers.

Unfair Competition

Practices that are dishonest or deceptive and intended to give one business an unfair advantage over competitors.