Where There Are Internal Economies of Scale,the Scale of Production

question 34

Multiple Choice

Where there are internal economies of scale,the scale of production possible in a country is constrained by

• A) the size of the domestic plus the foreign market.
• B) the size of the country.
• C) the size of the trading partner's country.
• D) the size of the domestic market.
• E) the size of the foreign market.

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Definitions:

Unilateral Contracts

Unilateral contracts are agreements in which one party makes a promise in exchange for the other party's performance, not a promise of performance.

Revocation

The act of withdrawing, cancelling, or repealing a right, offer, contract, or privilege.

Firm Offer

An irrevocable offer made in a commercial context that remains open for a specified period of time, often used in the sale of goods.

UCC

Stands for the Uniform Commercial Code, which is a comprehensive set of laws governing all commercial transactions in the United States.