Gains of Trade Are Possible for Two Countries If They

question 53

Multiple Choice

Gains of trade are possible for two countries if they have:

• A) different opportunity costs.
• B) equal opportunity costs.
• C) different political systems.
• D) identical political systems.

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Definitions:

All-You-Can-Eat

All-You-Can-Eat offers patrons the ability to consume as much food as they desire for a fixed price, commonly found in restaurants and buffets.

Need

A requirement essential for an organism to live a healthy life, or in a business context, a demand that drives consumer behavior or market trends.

Organizational Buying

The process by which businesses or organizations make purchasing decisions and buy products and services for operational or resale purposes.

Decision Criteria

Decision criteria are the standards or benchmarks used to guide the decision-making process, helping to evaluate and prioritize different options.