Free Trade Based on Comparative Advantage Is Economically Beneficial Because

question 13

Multiple Choice

Free trade based on comparative advantage is economically beneficial because:

• A)it promotes an efficient allocation of world resources.
• B)it increases competition.
• C)it provides consumers with a wider range of products.
• D)of all of the above reasons.

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Definitions:

Changes

Alterations, modifications, or transformations in conditions, situations, or objects over time.

Henry George

A 19th-century economist known for advocating the single tax on land values.

Pierre Joseph Proudhon

A French philosopher and socialist known for declaring "Property is theft!" and advocating for the abolition of private property.

Rent of Land

The payment made for the use of land. It is often a fixed amount paid periodically by a lessee to a lessor for the rights to use the land.