Adam Smith Recognized the Benefits from Trade Based on ____

question 67

Multiple Choice

Adam Smith recognized the benefits from trade based on ____, and David Ricardo recognized the benefits from trade based on ____:

• A) Comparative advantage; resource endowments
• B) Absolute advantage; comparative advantage
• C) Absolute advantage; resource endowments
• D) Comparative advantage; absolute advantage

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Definitions:

Water Pollution

contamination of water bodies such as lakes, rivers, oceans, and groundwater, making it harmful to organisms and the environment.

Organisms

Any living individual entities that can react to stimuli, reproduce, grow, and maintain homeostasis.

Waste Water Management

The process of treating and managing wastewater to minimize its adverse effects on human health and the environment.

Wastewater Lagoons

Artificial ponds designed for the treatment and settling of wastewater through natural processes such as microbial degradation, allowing for the removal of pollutants before discharge to the environment.