Author Question: Operation on the basis of comparative advantages implies which of the following? (a) Countries ... (Read 56 times)

Beheh · **on:** Jun 30, 2018

Operation on the basis of comparative advantages implies which of the following?

(a) Countries allocate their resources across all sectors regardless of opportunity costs.
(b) Countries will specialize even if they can produce everything.
(c) Countries not efficient in any production should not trade.
(d) none of the above.

Question 2

Regional specialization did not emerge in the colonies due to the small size of the cities and towns.

Indicate whether the statement is true or false