Finance Gained Power in the 1970s from Which of the Following

question 56

Multiple Choice

Finance gained power in the 1970s from which of the following sources?

• A) Control over information
• B) Nonsubstitutability
• C) Control over resources
• D) Control over uncertainty

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Definitions:

Comparative Advantage

Comparative advantage refers to the ability of a country to produce a certain good more efficiently and at a lower opportunity cost than another country.

Absolute Advantage

The capacity of a nation, person, or company to generate a greater quantity of a product or service than its rivals with an identical level of resources.

Trade

The exchange of goods, services, or both between parties, often involving the transfer of money.

Commodity

A basic good used in commerce that is interchangeable with other goods of the same type; commodities are often used as inputs in the production of other goods or services.