Asked by Braeli Payne on Jul 03, 2024

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Brazil should

A) specialize in the production of coffee and import hot dogs from ColombiA.
B) specialize in the production of hot dogs and import coffee from Colombia.
C) import both coffee and hot dogs from Colombia.
D) not engage in trade with Colombia,but produce both coffee and hot dogs domestically.
E) trade only with Colombia.

Specialize

To focus on a particular area of study, work, or production, becoming an expert or highly skilled in that area.

Import

The act of bringing goods or services into a country from abroad for sale.

Colombia

A country located in the northern part of South America, known for its significant biodiversity, cultural heritage, and as a major producer of coffee and emeralds.

  • Acquire knowledge on the elementary concepts of global trade and the principle of comparative advantage.
  • Differentiate between absolute and comparative advantages in international trade.
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PY
Paige YoderJul 08, 2024
Final Answer :
A
Explanation :
Brazil is renowned for its coffee production, leveraging its climate and geography to produce coffee more efficiently than hot dogs. Specializing in coffee and importing hot dogs from Colombia, where they might have a comparative advantage in other products, follows the principle of comparative advantage in international trade.