The Increase in Total Utility Derived from Trading Products Is

question 94

Multiple Choice

The increase in total utility derived from trading products is called:

• A) trade patterns.
• B) gains from trade.
• C) comparative advantage.
• D) labor productivity.

---

Definitions:

Optical Illusions

Visual perceptions that differ from reality, where the brain interprets an image in a way that differs from the actual physical properties of the object or scene.

Misestimated Distances

Refers to inaccuracies in the perception or estimation of the physical space between two points.

Misestimate Sizes

The incorrect estimation or perception of the actual size or magnitude of an object.

Convergence

In psychology, it refers to the coming together of sensory information or ideas to form a new, unified perspective; in physics, it's the inward bending of the eyes toward each other to focus on a close object.