Law College

A country is capable of efficiently producing computers but has been
devoting a large portion of its economy to building cars. The country decides
that it should focus more of its economic resources on making computers
and buy its cars from other countries. This situation best illustrates which
factor that encourages global trade?
a. acquiring natural resources
b. allowing for specialization
c. obtaining essential materials
d. eliminating trade deficits

Answers

Answer 1
The correct answer is B
Answer 2

After analyzing the scenario, the situation best illustrates allowing for specialization factor that encourages global trade. Thus, option 'B' is the correct option.

What do you mean by specialization?

A decision to specialize is made by a community, organization, or broader group in which each individual who is best equipped to carry out a particular task accepts responsibility for its effective completion. Both at the macroeconomic and microeconomic levels, specialization is possible. At the personal level, specialization typically takes the form of occupation- or job-specific specialization. Each person in a group or economy, for instance, has a special set of skills, interests, and talents that make her uniquely qualified to carry out a particular set of tasks.

A South American company harvesting bananas is an example of how specialization involves concentrating on a particular skill, activity, or production process to become the leader or expert. An economy can benefit from trade when it can specialize in production.

Learn more about specialization, here:

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