One advantage of International trade is that
Prices of goods become stable
Countries become self-sufficient
Goods consumed are produced at a very high cost
It makes possible the consumption of variety of goods
Correct answer is D
International Trade promotes economic growth, efficiency, technological progress, and what ultimately matters the most, consumer welfare. By lowering prices and increasing product variety available to consumers, trade especially benefits middle- and lower-income households.
Nations engage in international trade because of difference in?
Absolute cost
Comparative cost
Fixed cost
Variable cost
Correct answer is B
The principle of comparative cost states that;
international trade takes place between two countries when the ratios of comparative cost of producing goods differ, and each country would specialise in producing that commodity in which it has a comparative advantage.
Comparative cost advantage is when a country produces a good or service for a lower opportunity cost than other countries.
If the probability of an event occurring is x, what is the probability of the event not occurring?
1 - x
x - 1
0
\(\frac{1}{x}\)
Correct answer is A
If p is the probability of an event happening(occurring) and the probability of an event not occurring is p1 then p + p1 = 1
p1 = 1 - p
x1 = 1 - x
2
3
5
6
Correct answer is B
No explanation has been provided for this answer.
ii only
i and ii only
ii and iii only
i and ii only
Correct answer is C
No explanation has been provided for this answer.