International Trade Is Based on the Theory of Absolute Advantage

question 143

True/False

International trade is based on the theory of absolute advantage.

---

Definitions:

Oral Exam

An oral exam is a type of examination where candidates are verbally questioned on their knowledge or competence in a particular subject or field.

Stereotypes

Oversimplified generalizations about groups of people that may not accurately reflect reality.

Expectations

Beliefs or forecasts about what will happen in the future or about how someone should behave.

Social Categorization

The process of classifying individuals into groups based on shared characteristics such as race, gender, age, etc.