Which of the following statements is TRUE? I. If a country does not trade, its knowledge is approximately equal to that used by one brain. II. The basic idea of trade is to buy the things that would cost you a lot to make, and sell the things that you can make at a low opportunity cost. III. Trade leads to specialization, which in turn increases in productivity.
A) II and III only
B) III only
C) II only
D) I, II, and III

Question

Quizplus · Accepted Answer

The Answer of Which of the following statements is TRUE? I. If a country does not trade, its knowledge is approximately equal to that used by one brain. II. The basic idea of trade is to buy the things that would cost you a lot to make, and sell the things that you can make at a low opportunity cost. III. Trade leads to specialization, which in turn increases in productivity.
A) II and III only
B) III only
C) II only
D) I, II, and III

Which of the Following Statements Is TRUE? I