Economic Activities Tend to Cluster in Time Because

question 150

Multiple Choice

Economic activities tend to cluster in time because:

• A) it pays to coordinate economic activities with those of others.
• B) of the vertical LRAS curve.
• C) of labor unions.
• D) it is legally required.

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Definitions:

Silk

A natural fiber known for its luster and softness, produced by the larvae of silk moths, used in the manufacture of luxurious fabrics.

Price Taker

A firm or individual who accepts the prevailing prices in the market since they do not have the power to influence it.

Small Country

A nation with a smaller geographic area or population, often with less impact on global economic trends.

International Trade

Conducting transactions of goods and services over the boundaries of nations or territories.