_____________ Explains How Mutually Beneficial Trade Can Take Place Even

question 9

Multiple Choice

_____________ explains how mutually beneficial trade can take place even when one nation is less efficient than another nation in the production of all commodities.

• A)Mercantilism
• B)The law of comparative advantage
• C)The labor theory of value
• D)The law of absolute advantage

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Definitions:

Controlling

is one of the four major functions of management, focusing on monitoring performance and making adjustments to achieve goals.

Upside-Down Pyramid

A view of organizations that shows customers at the top being served by workers who are supported by managers.

Customers

Individuals or organizations that purchase goods or services from a business or seller.

Top Managers

The highest echelon of leaders within an organization, responsible for strategic decision-making and overall direction of the company.