David Hume's Price-Adjustment Mechanism Supported the Mercantilist View That a Nation

question 28

True/False

David Hume's price-adjustment mechanism supported the mercantilist view that a nation could maintain a trade surplus indefinitely.

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Definitions:

Competitive Advantage

A condition or circumstance that puts a company in a favorable or superior business position compared to its competitors.

Organisational Outputs

The results or outcomes produced by an organization, including products, services, and any other measurable achievements.

Resource Inputs

Resource inputs refer to the essential materials, financial assets, and human skills required for the production process in businesses or projects.

Technology

The application of scientific knowledge for practical purposes, especially in industry and in our daily lives.