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Match the given descriptions to the terminology that could be used to define them.
assumption in trade
absolute advantage
comparative advantage
specialization in trade
Country A produces a certain good in abundance
and sells it at a cheaper rate to other countries.
Country B produces a good with a lower opportunity
cost than another good.
Country A has superior resources to produce a good
more efficiently.
Countries A and B have a free flow of labor across their
borders.

Sagot :

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  • Country A produces a certain good in abundance and sells it at a cheaper rate to other countries - comparative advantage.
  • Country B produces a good with a lower opportunity cost than another good - specialization in trade.
  • Country A has superior resources to produce a good more efficiently - absolute advantage.
  • Countries A and B have a free flow of labor across their borders - assumption in trade.

What is Trade?

This is defined as the buying and selling of goods and services in which the seller is compensated by the buyer.

The trade terminologies and their appropriate descriptions can be seen written above.

Read more about Trade here https://brainly.com/question/17727564

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