Which of the following is true?
A) Trade does not produce anything new; therefore, it cannot create value.
B) The value of a good is determined by the cost of the material resources required for its production.
C) The value of a good generally depends on who uses it and circumstances such as when and where it is used.
D) All of the above are true.

Question

Quizplus · Accepted Answer

A is false as trade can create value by bringing together different resources and ideas to produce something new. B is also false as the value of a good is not determined solely by its production costs but also by demand and available alternatives. C is true as the value of a good can vary depending on its use and context. Therefore, the best choice is C.

Which of the Following Is True