Decentralization of Production Is Appropriate When

question 94

Multiple Choice

Decentralization of production is appropriate when

• A) a product's value-to-weight ratio is high.
• B) the product serves universal needs.
• C) barriers to trade are low.
• D) volatility in key exchange rates is expected.

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Definitions:

Common-value Auction

A type of auction where the item being sold holds the same worth to every participant, however, the participants might possess varying levels of knowledge regarding the true value of the item.

Releasing Information

The act of making certain data or facts available to the public or specific groups.

Auctioneer

A person or company that conducts auctions by accepting bids and declaring goods sold.

Mineral Rights

Legal entitlements associated with the ownership of minerals found beneath the surface of a piece of land.