Which of the following concepts predicts that if each country agrees to specialize in the production of the goods and services that it can produce most efficiently,this will make the best use of global capital resources and will result in lower prices?
A)The communist manifesto
B)The theory of absolute advantage
C)The free trade doctrine
D)NAFTA
E)GATT

Question

Quizplus · Accepted Answer

The free trade doctrine suggests that countries should specialize in producing goods where they have a comparative advantage, leading to more efficient global resource use and lower prices.

Which of the Following Concepts Predicts That If Each Country