AZ-Economics Global Economics (International Trade)

How does international trade best benefit specialization?A country can make and sell goods affordably and buy goods it cannot make.
Which is the best example of opportunity cost?A country that chooses to export bananas but not wheat.
Which statement best describes how globalization is affecting the world?The world is becoming more globalized and connected.
Which is the best example of a country that is dependent on other countries?a country that has little fertile soil
Which situation might cause a country to specialize?wheat production in a region with fertile soil
A company in Maine sends lobsters to France. What is this an example of?exporting
Which region specializes in diamonds?Sub-Saharan Africa
A country that makes a product more inexpensively and efficiently than another country hasan absolute advantage.
Which region is most likely to export bananas to the United States?Central America
What might be the best decision for Country A?focus on the petroleum industry only