#1
Which theory suggests that a country should specialize in the production of goods and services it can produce most efficiently?
#2
Who proposed the theory of absolute advantage?
#3
Which of the following is NOT a trade barrier?
#4
What is the main purpose of the World Trade Organization (WTO)?
#5
What is the main objective of trade liberalization?
#6
Which of the following is NOT a principle of the mercantilist theory?
#7
Which theory suggests that differences in factor endowments among countries lead to differences in comparative costs and hence determine patterns of trade?
#8
Which trade theory emphasizes the role of economies of scale in international trade?
#9
What is dumping in international trade?
#10
Which organization is responsible for facilitating negotiations and implementing trade agreements among member countries?
#11
According to the product life cycle theory, in which stage of a product's life cycle is a country likely to become an importer of the product?
#12
Which trade theory suggests that countries should specialize in the production and export of the goods that use their abundant factors of production?
#13
According to the Porter's Diamond Model, which factor refers to the presence of strong domestic competition that drives innovation and efficiency?
#14