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International Business Concepts

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Questions and Answers

According to the text, what was the main measure of a country's wealth in Mercantilism?

Exports

Gold and silver (correct)

Efficiency gains

Imports

What did Mercantilists believe about exports and imports?

Both exports and imports are good

Both exports and imports are bad

Exports are bad and imports are good

Exports are good and imports are bad (correct)

What is a key flaw in Mercantilism?

Efficiency gains

Specialization

Zero-sum game (correct)

Gold's value

What is the principle behind Absolute advantage?

Real wealth of a country consists of goods Signup and view all the answers

According to the text, what is the potential gain in efficiency that Mercantilists failed to recognize?

Specialization Signup and view all the answers

What is the main measure of a country's wealth in Mercantilism?

Gold and silver Signup and view all the answers

What is a key flaw in Mercantilism?

Zero-sum game Signup and view all the answers

What is the principle behind Absolute advantage?

Specialization Signup and view all the answers

What did Mercantilists believe about exports and imports?

Exports are good and imports are bad Signup and view all the answers

What is the potential gain in efficiency that Mercantilists failed to recognize?

Specialization Signup and view all the answers

International Business Concepts

Choose a study mode

Podcast

Questions and Answers

According to the text, what was the main measure of a country's wealth in Mercantilism?

What did Mercantilists believe about exports and imports?

What is a key flaw in Mercantilism?

What is the principle behind Absolute advantage?

According to the text, what is the potential gain in efficiency that Mercantilists failed to recognize?

What is the main measure of a country's wealth in Mercantilism?

What is a key flaw in Mercantilism?

What is the principle behind Absolute advantage?

What did Mercantilists believe about exports and imports?

What is the potential gain in efficiency that Mercantilists failed to recognize?

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