Question
One country exports goods that it can produce better than other countries do. This country must import goods that it cannot produce as efficiently as other countries do. This economic situation is called:
Choose the best answer from the options below:
A check register
B budget surplus
C bond
D specializing
Choose the best answer from the options below:
A check register
B budget surplus
C bond
D specializing
Answers
GPT-4o mini
The correct answer is: D) specializing.
This economic situation describes the concept of specialization, where a country focuses on producing goods that it can produce more efficiently than others, while importing goods that are more efficiently produced by other countries.
This economic situation describes the concept of specialization, where a country focuses on producing goods that it can produce more efficiently than others, while importing goods that are more efficiently produced by other countries.