Use the Following to Answer Questions

question 8

Multiple Choice

Use the following to answer questions:
Figure: Comparative Advantage
-When countries produce those goods for which they have a comparative advantage:

• A) total production and consumption will increase in all countries.
• B) trade will increase, but production will decrease.
• C) at least one country will be worse off; maximizing production comes from producing those goods for which they have the absolute advantage.
• D) they are maximizing their opportunity costs.

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Definitions:

IMC Audit

A comprehensive evaluation of an organization's Integrated Marketing Communications tactics and strategies to ensure alignment with its goals and effectiveness in the market.

Promotional Mix

The combination of different marketing communication tools used by a company, such as advertising, public relations, and sales promotions, to achieve its marketing objectives.

Consumer Content

Content created and shared by consumers about a product or service, often through social media or other online platforms, which can influence potential customers.