Asked by
James Spellacy
on Nov 17, 2024Verified
Trade between countries tends to
A) reduce both competition and specialization.
B) reduce competition and increase specialization.
C) increase competition and reduce specialization.
D) increase both competition and specialization.
Competition
A market condition where various sellers vie to attract customers by offering better terms, services, or goods.
Specialization
The process of focusing effort and resources on a specific task or area of production to increase efficiency and expertise.
Trade
The exchange of goods, services, or both within or between countries.
- Acknowledge the importance and merits of trade and specialization for people and economies at large.
Verified Answer
JA
Learning Objectives
- Acknowledge the importance and merits of trade and specialization for people and economies at large.
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