Economic Integration

question 137

Multiple Choice

Economic integration

• A) occurs when two or more nations join to form a free-trade zone.
• B) occurs when countries develop an acquired comparative advantage that makes their industries more competitive in international markets.
• C) occurs when countries are granted most-favored-nation status.
• D) occurs when one country voluntarily agrees to reduce its exports to another country.

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Definitions:

Major Employer

A business or organization that provides a significant number of jobs within a community or economy, often influencing labor market conditions.

Economists

Professionals who study how societies use resources to produce and distribute goods and services, analyzing economic theories and applying them to various sectors.

Making Assumptions

The process of establishing certain premises or conditions as given for the purpose of analysis or decision-making.

Economists

professionals who study the production, distribution, and consumption of goods and services, and analyze economic issues and trends.