Resources Are Used More Efficiently If People, Regions, and Countries

question 7

Multiple Choice

Resources are used more efficiently if people, regions, and countries specialize in goods for which they have a(n) :

• A)disincentive to trade with others.
• B)higher opportunity cost.
• C)absolute advantage in production.
• D)comparative advantage in production.
• E)None of the above. People, regions, and countries should learn to be self-sufficient.

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Definitions:

Phonological Loop

A component of working memory model that deals with auditory information and preserves it in a verbal form.

Visuo-Spatial Sketchpad

A component of the working memory model that processes and stores visual and spatial information, used for navigation and understanding spatial relationships.

Working Memory

A cognitive system responsible for temporarily holding information available for processing, important for reasoning and the guidance of decision-making and behavior.

Hippocampus

A region of the brain that is associated with the formation of new memories and is involved in learning and emotions.