The Concept of ________ Explains How Trade Between Two Countries

question 154

Multiple Choice

The concept of ________ explains how trade between two countries can make each better off.

• A)absolute advantage
• B)comparative advantage
• C)autarky
• D)trade barriers

---

Definitions:

Non-Controlling Interest

A share in the equity of a subsidiary not owned by the parent company, representing outside ownership interest in the subsidiary.

Canadian GAAP

Generally Accepted Accounting Principles in Canada, a set of accounting standards and procedures used to compile financial statements in Canada.

Operating Segments

Components of a business from which separate financial information is available and is evaluated regularly by the company’s decision makers.

US GAAP

United States Generally Accepted Accounting Principles, a common set of accounting principles, standards, and procedures that companies and their accountants must follow when they compile their financial statements.