Some nations prefer to produce one thing while others produce other things
Resources are not equally distributed among all trading nations
Trade enhances opportunities to accumulate profits
Interest rates are not identical in all trading nations
Economies of large-scale production
The specializing country behaving as a monopoly
Smaller production runs resulting in lower unit costs
High wages paid to foreign workers
International movements of capital
International movements of labor
Domestic production of the same goods and services
Domestic production of different goods and services
Allows private ownership of capital
Has flexible exchange rates
Has fixed exchange rates
Conducts trade with other countries
Introduction of new products
Product design and quality
Product price
All of the above
Industries in which there are neither imports nor exports
Import-competing industries
Industries that sell to domestic and foreign buyers
Industries that sell to only foreign buyers
Exports should exceed imports
Imports should exceed exports
Resources are more mobile internationally than are goods
Resources are less mobile internationally than are goods
Maximizing domestic efficiency is not considered important
Maximizing consumer welfare may not be a chief priority
There exist sound economic reasons for keeping one’s economy isolated from other economies
Economists tend to favor highly protected domestic markets
The worker’s motivation and skill
The technology, plant, and equipment in use
How easy the product is to manufacture
All of the above
Intensify inflationary pressures at home
Induce falling output per worker-hour for domestic workers
Place constraints on the wages of domestic workers
Increase profits of domestic import-competing industries
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