The Simultaneous Export and Import of Widgets by the United

question 38

Multiple Choice

The simultaneous export and import of widgets by the United States is an example of

• A) intra-industry trade.
• B) increasing returns to scale.
• C) imperfect competition.
• D) inter-industry trade.
• E) the effect of a monopoly on international trade.

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Definitions:

Competency

A combination of skills, knowledge, and behavior that is required to perform effectively in a job or activity.

Contingency

A future event or circumstance that is possible but cannot be predicted with certainty, often requiring flexible planning or preparation.

Need for Achievement

A psychological trait that drives an individual to pursue and attain goals, often related to personal accomplishment and success.

Behavioral Perspective

An approach to understanding human behavior that focuses on observable behaviors, emphasizing the influence of the environment on actions.