The Shifting of Resources from Inefficient to Efficient Companies as Trade

question 94

True/False

The shifting of resources from inefficient to efficient companies as trade barriers fall produces static effects.

---

Definitions:

Control Environment

The set of standards, processes, and structures that guide the operation of an organization in achieving its objectives.

Socialist System

An economic and political system where the means of production, distribution, and exchange are owned and regulated by the community as a whole.

Capitalist System

An economic system based on private ownership of the means of production and their operation for profit, characterized by competition, a market economy, and private property rights.

Fourteenth Amendment

An amendment to the U.S. Constitution, ratified in 1868, that granted citizenship to all persons born or naturalized in the United States, including former slaves, and guaranteed all citizens equal protection of the laws.