Examples of ________ Show How Trade Between Two Countries Can

question 170

Multiple Choice

Examples of ________ show how trade between two countries can make each better off.

• A) absolute advantage
• B) comparative advantage
• C) autarky
• D) trade barriers

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Definitions:

Due Care

Due care refers to the effort made by an individual or entity to avoid harm to other people or their property, acting with the prudence and attention that a reasonable person would exercise in similar circumstances.

Product Liability

The legal liability a manufacturer or trader incurs for producing or selling a faulty product.

Negligence

The failure to exercise the care that a reasonably prudent person would exercise in similar circumstances, resulting in harm or damage.

Design Defect

A flaw in the planning or design of a product that makes it inherently unsafe or faulty.