Multiple Choice
The relative advantage in one economic activity that one nation enjoys in comparison with other nations is known as:
A) Theory of comparative advantage
B) Theory of absolute advantage
C) Free-trade advantage
D) Theory of nations advantage
Correct Answer:
Verified
Correct Answer:
Verified
Q1: According to absolute advantage theory, by specializing
Q3: The theory of comparative advantage states that
Q4: American economist Raymond Vernon divided the world
Q6: Factor endowments; domestic demand; firm strategy, structure,
Q7: The birth of modern economics and the
Q8: Widely practiced during the 1600s and 1700s,
Q9: The theory of absolute advantage espouses that
Q10: The national competitive advantage of industries depends
Q11: Factor endowment theory is a proposition that
Q66: Discuss the political arguments against free trade.