The main reason for different nations to enter into trade is that
A) Every nation can produce by itself all the commodities and services required by its citizens/people
B) Some nations are capable to produce all the goods and services required by its people
C) No country has the capacity to produce all the goods and services required by its citizens/people
D) None of the above
Correct Answer:
Verified
Q2: According to the absolute differences in cost
Q3: International trade refers to
A)Domestic trade
B)Inter-regional trade
C)Trade between
Q4: The classical theory of international trade is
Q5: The necessity of absolute differences in costs
Q6: The opportunity cost theory considers
A)Labour as the
Q7: The Comparative theory of international trade is
Q8: The H-O theory of international trade was
Q9: Community indifference curves have the same characteristics
Q10: The factor price ratio(PC/PL)A < (PC/PL)B of
Q11: The H-O theory assumed the prevalence of
A)Monopolistic
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