Basics of International Business
Quick practice
Question 1 of 5
Statement I: A country should specialize in goods in which it has absolute cost advantage.
Statement II: International trade benefits only one trading country.
Statement III: Labour is considered as the only factor of production.
Statement IV: This theory supports free trade.
A
Statement I and II only
B
Statement II and III only
C
Statement I, III and IV only
D
Statement I, II, III and IV
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