Directing domestic resources to output which a nation is highly efficient at producing is called____________________?
Correct answer: B. International specialization
- A. International Trade
- B. International specialization
- C. Speculation
- D. None
Explanation
International specialization occurs when a country concentrates resources on goods it can produce relatively efficiently and obtains other goods through trade. This is more specific than international trade, which includes all cross-border buying and selling.
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