Trade raises the economic well-being of a nation in the sense that
a. the gains of the winners exceed the losses of the losers.
b. everyone in an economy gains from trade.
c. since countries can choose what products to trade, they will pick those products that are most beneficial to society.
d. the nation joins the international community when it begins to engage in trade.
a
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Which of the following is a consumption good or service?
A) a United Parcel Service truck delivering Christmas gifts B) a personal computer purchased in order to play games at home C) a satellite dish installed by Cox Cable to download programs that are then distributed through its cable system D) a United Airline ticket counter E) the Endeavor space shuttle
A resource that is a common property is
A) oil on land owned by a drilling and refining company. B) natural gas on land owned by an energy producer. C) timber on land owned by a lumber company. D) water in a publicly owned river.