Restaurant meals are an example of a ________ good and clothing is an example of a ________ good.The pattern of interregional trade is determined primarily by ________.
A) nontraded; traded; external economies.
B) traded; nontraded; internal economies
C) nondurable; durable; natural resource
D) durable; nondurable; natural resources
E) consumer; style; population

Question

Quizplus · Accepted Answer

Restaurant meals are nontraded goods because they are consumed where they are produced, while clothing is a traded good as it can be produced in one region and sold in another. The pattern of interregional trade is determined primarily by external economies, which refer to cost advantages that arise from the size of an industry within a particular area.

Restaurant Meals Are an Example of a ________ Good and Clothing