International Trade Increases World Economic Efficiency for the Same Reasons

question 112

True/False

International trade increases world economic efficiency for the same reasons that domestic trade increases national economic efficiency.

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Definitions:

Imperialism

Is the economic domination of one country by another.

Colonialism

Is the direct political control of one country by another.

Economic Domination

The condition where one country, corporation, or individual exerts significant control over the economic activities and decisions within a region or worldwide.

Homogenization

The process of making things uniform or similar by blending diverse elements, especially in culture or agriculture.