One Advantage of the Specialization That Results from International Trade

question 17

Multiple Choice

One advantage of the specialization that results from international trade is that countries can take advantage of

• A) scale economies.
• B) production diversification
• C) smaller countries.
• D) taste reversals.
• E) lower transport costs.

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Definitions:

Twentieth Century

The period extending from January 1, 1901, to December 31, 2000, marked by significant advancements in technology, science, politics, and social movements.

Social Movement

A collective effort by a large group of people who are organized to promote or resist change in society.

Global Call

A communication or action that appeals to or involves participants from all around the world, often in the context of global issues, campaigns, or movements.

Poverty

Poverty is a socioeconomic condition characterized by the lack of sufficient financial resources or means to meet basic living needs, such as food, shelter, education, and healthcare.