Which of the Following Is a Result of Certain Products

question 106

Multiple Choice

Which of the following is a result of certain products having small national markets,in the absence of trade?

• A)The variety of products available to consumers increases.
• B)Limited demand for such products leads to non-realization of economies of scale.
• C)Each nation will specialize in producing a narrower range of products than it would in the presence of trade.
• D)At low volumes of production,unit costs and prices would be lowered.
• E)The first movers in an industry may get a lock on the world market that discourages subsequent entry.

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Definitions:

Participate

To take part or become involved in an activity or event.

Assent

A form of agreement or approval, particularly in situations where the consent of a minor is obtained in addition to parental consent.

Scientific Integrity

Adherence to ethical principles and professional standards necessary for the conduct of research and the dissemination of its findings.

Ethical Principle

A foundation of guidelines for making moral decisions, typically used to address questions of fairness, justice, and rights.