Which Is Not a Benefit from Specialization and Trade

question 65

Multiple Choice

Which is not a benefit from specialization and trade?

• A)World output is increased.
• B)The range of goods and suppliers is increased.
• C)There is more competition.
• D)There may be a more efficient scale of operation for firms with international markets.
• E)All of the choices are benefits from specialization and tradE.

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Definitions:

Personal Computers

Electronic devices designed for individual use, capable of executing a set of commands to perform various tasks, such as word processing, internet browsing, and gaming.

Private Sector

The part of the economy that is run by individuals and companies for profit and is not under direct government control.

Public Sector

The portion of the economy composed of government services and enterprises, including federal, state, and local government bodies.

Profit and Loss

A financial statement that summarizes the revenues, costs, and expenses incurred during a specific period of time, usually a fiscal quarter or year, to show the net profit or loss of a business.