Business, 24.03.2020 21:26 esigaran24

Question 2
Which of these is required for specialization to take place?
a. Labor unions
b. Division of Labor
c. International Trade
d. Absolute advantages

Question 3
Which of these would help Globalization and International Trade?
a. Trade Barriers
b. Free Trade
c. Not trading with other countries

Question 4
In which situation does one country have an absolute advantage over another country?
a. Workers earn higher wages
b. Infrastructure is more advanced
c. Government charges lower taxes
d. Production costs are lower

Question 5
Which describes specialization?
a. Ability to produce more cheaply
b. Existence of lower opportunity costs than competitors
c. Performance of a particular task within an economy

Question 8
Choose which items would be a Pro (positive) to Economic Interdependence. Hint: 5 items are Pro, 3 are Con

A) Better Living Conditions
B) Global Relationships
C) Greater Economic Growth
D) Dependency on other countries
E) Growing Trade
F) Loss of Independence
G) Issues in one country impact globally
H) Efficiency

Answers: 2

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Question 2
Which of these is required for specialization to take place?
a. Labor unions...

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