Which of the following is an element of the comparative advantage principle?
A) per unit cost advantage
B) relative efficiency of production
C) absolute cost of production
D) negative balance of trade
Question 2
Which of the following arguments against globalization, if true, could be made using Jeans Unlimited as an example?
A) Globalization results in the government making nearly all economy-related decisions.
B) Globalization permits the use of unethical practices as long as it brings the company profits.
C) Globalization causes companies to produce goods in nations with the most lenient labor regulations.
D) Globalization places least emphasis on corporate social responsibility.
Question 3
Konesia is a country in which rising incomes are increasing the global demand for basic products and services. Which of the following is the type of market featured in this country?
A) traditional market
B) emerging market
C) feudal market
D) virtual market
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