The Terms of Trade Are

question 175

Multiple Choice

The terms of trade are

• A) the quantity of imports required to pay for one unit of exports.
• B) the quantity of exports required to pay for one unit of imports.
• C) less than the sum of the traders' opportunity costs.
• D) greater than the sum of the traders' opportunity costs.
• E) equal to the sum of the traders' opportunity costs.

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Definitions:

IS Strategic Plan

An Information Systems Strategic Plan outlines an organization's technology-related objectives and the strategies to achieve them.

IS Operational Plan

Consists of a clear set of projects that the IS department and the functional area managers will execute in support of the IT strategic plan.

IT Architecture

A framework for specifying the structure and operation of an organization’s IT resources, including hardware, software, data, and networking components, to achieve business goals efficiently.

Organization Strategic Plan

An Organization Strategic Plan outlines an organization's long-term goals and the strategies to achieve them, often including missions, visions, and action plans.