Which Of These Allows Specialized Production In The Global Economy

Question: What must exist before a country can specialize its production

Answer: an international division of labor

Question: Which of these can a country have when there is an international division of labor

Answer: specialized production

Question: Which of these allows specialized production in the global economy

Answer: the international division of labor

Question: Which conditions would allow Country X to have an absolute advantage over Country Y in the production of automobiles

Answer: Country X can manufacture cars more cheaply.

Question: Which circumstances would allow Country A to have an absolute advantage over Country B in the production of computers

Answer: Companies in Country A can produce computers at a lower cost.

Question: Which circumstance would give Country X and absolute advantage over Country Y in the production of clothing

Answer: Its production costs for clothing were the lowest in the world.

Question: Which gives a country a comparative advantage

Answer: when it gives up less than others to engage in a particular type of production

Question: Under which circumstance would a country have a comparative advantage in the production of a certain good

Answer: It has a lower opportunity cost for production of that good.

Question: Under which circumstance would Country X have a comparative advantage in the production of cotton

Answer: Country X didn’t have to give up a more profitable form of production in order to grow cotton.

Question: Why does interdependence bring economic growth

Answer: Interdependence enables specialized production, which is more efficient.