A situation whereby a country can consume more than it can produce as a result of specialization and trade is referred to as GAIN FROM TRADE.
The above situation usually occurs when countries produce a surplus of the commodity in which they possess specialization and then trade it for another surplus commodity of another country, thereby making them consume more than they can produce due to occupation and exchange.
Hence, in this case, the answer is GAIN FROM TRADE.
The draws are performed with replacement. (a) is the maximum value of the sample set. So, denotes the event that the maximum value of the sample set is lesser than or equal to k. Hence, the event is same as the event ' each of X1, X2.
