International Business Competing in the Global Marketplace Study Set 3
Quiz 5: International Trade Theory
When a Gain by One Country Results in a Loss
When a gain by one country results in a loss by another,there is a positive-sum game.
Explore answers and all related questions
According to the theory of comparative advantage,it is in a country's best interest to maintain a trade surplus and to export more than it imports.
Smith's theory of international trade suggests that when one country has an absolute advantage in the production of all goods,the country might not derive any benefit from international trade.
According to Ricardo,there may be cases when it makes sense for a country to buy goods from another country that it can make more efficiently itself.
Explore all questions
How it work
Terms And Conditions
© 2020 QuizPlus. All Right Reserved