The Theory of ________ States That a Nation Should Produce

question 305

Multiple Choice

The theory of ________ states that a nation should produce and sell goods to other countries that it produces most efficiently, and buy goods from other nations that they produce more efficiently.

• A) comparative advantage
• B) absolute advantage
• C) mercantilism
• D) bilateral advantage

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Definitions:

Assimilation

The cognitive process by which new information is integrated into existing schemas or frameworks, helping individuals to understand and interact with the world around them.

Sensorimotor

Refers to the stage in early childhood development where learning occurs through sensory experiences and manipulating objects.

Preoperational

The second stage in Piaget's theory of cognitive development, marked by the emergence of symbolic thought but lacking in the understanding of logic or operations.

Concrete Operational

A stage in Piaget's theory of cognitive development, typically occurring between ages 7 and 12, where children gain the ability to think logically about concrete objects and events.