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vlada-n [284]
3 years ago
6

Because of their relatively small national economies, which of the following is most likely considered to be the most important

factor for Belgium, Korea, and Canada to take full advantage of specialization?
A. division of labour
B. international trade
C. economies of scale
D. command economy
Business
1 answer:
solniwko [45]3 years ago
4 0

Answer:

The correct option is: B. international trade

Explanation:

International trade refers to the trade or interchange of goods, services and capital between countries. Therefore, this exchange across international borders can be of two types: export, import.

International trade is vital for <u>globalisation</u>, which gives exposure to the countries and its consumers to the various goods or products and the markets of the other countries.

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Answer:

d. All of these answer choices are correct.

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Answer:

B.

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According to this law, if Kendall is good at decorating cupcakes and Wilson is the best at decorating cookies, then Kendall should decorate cupcakes and Wilson should decorate cookies becuase they can do it with lower costs.

The following are the assumptions of the Ricardian doctrine of comparative advantage:

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-The production of commodities is done under the law of constant costs or returns.

-The two countries trade on the barter system.

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