Economies More Open to Foreign Trade Are More Efficient in Production

question 101

Multiple Choice

Economies more open to foreign trade are more efficient in production partly because:

• A) more open economies tend to receive more foreign aid.
• B) foreign producers are more productive than domestic producers.
• C) free trade opens a country up to new ideas and innovation.
• D) property rights are less important in a more open economy.

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Definitions:

Potential for Growth

The inherent capacity or ability of an individual or organism to develop and mature beyond its current state.

Assertive Behaviours

Actions characterized by confidence and self-assurance, through which individuals express their needs and rights without infringing on others'.

Humanist

A person who adopts a philosophical and ethical stance emphasizing the value and agency of human beings, individually and collectively.

Passive

Lacking in active response or involvement; allowing or subject to action without opposition or resistance.