Asked by
Mubashshira Waqas
on Dec 08, 2024
Verified
The case for ________ is based on the theory of comparative advantage.
A) quotas
B) export subsidies
C) tariffs
D) free trade
Comparative Advantage
The ability of an individual, company, or country to produce a good or service at a lower opportunity cost than competitors, enabling trade benefits.
Free Trade
International commerce that operates naturally without the interference of tariffs, quotas, or restrictions.
- Acquire an understanding of comparative advantage theory and its impact on the practice of free trade.
Verified Answer
NZ
Learning Objectives
- Acquire an understanding of comparative advantage theory and its impact on the practice of free trade.