Asked by Lianna Moricee on Jul 16, 2024
Verified
Differences in production efficiencies among nations in producing a particular good result from
A) different endowments of fertile soil.
B) different amounts of skilled labor.
C) different levels of technological knowledge.
D) all of these.
Production Efficiencies
Occurs when a firm or economy can no longer produce additional amounts of a good without lowering the production level of another product.
- Recognize the impact of different production efficiencies on international trade.
Verified Answer
SA
Salvador Ayala-MendozaJul 19, 2024
Final Answer :
D
Explanation :
Differences in production efficiencies among nations in producing a particular good can result from various factors, including different endowments of fertile soil, different amounts of skilled labor, and different levels of technological knowledge.
Learning Objectives
- Recognize the impact of different production efficiencies on international trade.