World Output of Goods and Services Increases with Specialization Because

question 113

Multiple Choice

World output of goods and services increases with specialization because:

• A) The world's resources are used more efficiently.
• B) The production possibilities curve shifts outward for each country.
• C) The workers in each country work fewer hours per week.
• D) The infant industries in each country are protected.

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Definitions:

Demand Curve

A visual diagram that illustrates how the demand for a product varies with its price, usually showing a decline from left to right.

Electric Company

A business entity that produces, transmits, and distributes electricity to consumers and businesses.

Demand Curve

A chart that illustrates the connection between a product's price and the quantity that buyers are prepared to buy at different price levels.

Microsoft

A multinational technology company known for its software products like Windows operating systems and Office productivity suite.