Answer:
- Gains from trade
- Consumer Satisfaction
- Greater Efficiency
- Growth Opportunities
Explanation:
According to Investopedia, specialization is a method of production where an entity focuses on the production of a limited scope of goods to gain a greater degree of efficiency.
A country can specialize on the production of a particular commodity or service that is peculiar to their part of the world giving them the opportunity to become very efficient and have more opportunities for growth. Some of the benefits of specialization in a country include;
- Economies of scale/ greater efficiency: A country that is involved in specialized production will have very efficient production because the more focus they have on one task, the more efficient they become at this task which reduces the time and money involved in producing a good.
- Gains from trade: Two countries that both have comparative advantages on different products will benefits greatly if they continue in their specialized products and trade. For example country X produces fabric at a very cheap rate and country Y produces rice at a very cheap rate. It will cost country X a greater amount to start rice production than to just trade and get rice from country Y and vice versa. So both countries benefit from specializing and trading.
- Growth Opportunities: A country can gain access to the world market which allows them to grow bigger and in turn increase their efficiency.
- Consumer Satisfaction: Specialization means that cost of production is lower which makes the cost of goods relatively cheaper.
Answer: The Senate maintains several powers to itself.
Explanation: Some powers given to the Senate include: It ratifies treaties by a two-thirds supermajority vote and confirms the appointments of the President by a majority vote. The consent of the House of Representatives is also necessary for the ratification of trade agreements and the confirmation of the Vice President.
Answer:
In the 1790s, despite a lack of specific constitutional authority to do so, Congress chartered a national bank, arguing that the institution was necessary to regulate the value of currency. The chartering of a national bank was therefore an example of an implied power.
Explanation:
Implied powers are political powers that are not explicitly explained in the United States Constitution but are granted to the government. The term was widely used in Ireland around the mid 1780s, meaning it is highly possible that the United States was not the first nation making use of such power. It came into play in America in the creation of the First Bank of the United States. This bank would be in charge of the war debt of the American Revolution and would standardize the currency of the recently independent nation.
The legislative branch is separated into the Senate and the House of Representatives. The other two branches are judicial and executive.
This is true there was approximately 100,000 pro democratic protesters gathered there
