Asked by
Jhaime Srichandr
on Nov 05, 2024
Verified
Refer to Table 20.1. Guatemala should specialize in and export ________, and Mexico should specialize in and export ________.
A) oranges; oranges
B) bananas; bananas
C) bananas; oranges
D) oranges; bananas
Specialize
To focus on a narrow area of knowledge or activity, often to increase efficiency and productivity in the production of goods or services.
Export
The process of sending goods or services from one country to another country for sale or trade.
Oranges
A citrus fruit known for its round shape and bright orange skin, commonly processed for juice or eaten fresh.
- Determine the circumstances that justify countries specializing in the manufacture of specific goods and participating in commercial exchange.
- Discriminate between the contributions of comparative advantage and absolute advantage to international specialization and trade dynamics.
Verified Answer
PA
Learning Objectives
- Determine the circumstances that justify countries specializing in the manufacture of specific goods and participating in commercial exchange.
- Discriminate between the contributions of comparative advantage and absolute advantage to international specialization and trade dynamics.