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Why would the information on this chart be questioned for accuracy?
the comparative advantage in production.
People can trade for those items they don't produce themselves.
limit
North Korea's literacy rate is so high yet its GDP per capita is so low.
Literacy Rate: 65%
Technology-based businesses are hugely successful in parts of India.
Japan's economy is already developed and robust.
Japan
Countries around the world specialize production, and trade with other countries based upon
the comparative advantage in production.
People can trade for those items they don't produce themselves.
limit
North Korea's literacy rate is so high yet its GDP per capita is so low.
Literacy Rate: 65%
Technology-based businesses are hugely successful in parts of India.
Japan's economy is already developed and robust.
Japan
Which of these BEST describes the development of technology in India?
the comparative advantage in production.
People can trade for those items they don't produce themselves.
limit
North Korea's literacy rate is so high yet its GDP per capita is so low.
Literacy Rate: 65%
Technology-based businesses are hugely successful in parts of India.
Japan's economy is already developed and robust.
Japan
How does specialization allow for a higher standard of living?
the comparative advantage in production.
People can trade for those items they don't produce themselves.
limit
North Korea's literacy rate is so high yet its GDP per capita is so low.
Literacy Rate: 65%
Technology-based businesses are hugely successful in parts of India.
Japan's economy is already developed and robust.
Japan
Because of its physical geography there is little land available for farming, so it is highly industrialized and imports most food products. What nation is described by these statements?
the comparative advantage in production.
People can trade for those items they don't produce themselves.
limit
North Korea's literacy rate is so high yet its GDP per capita is so low.
Literacy Rate: 65%
Technology-based businesses are hugely successful in parts of India.
Japan's economy is already developed and robust.
Japan
A tariff is a form of taxation on foreign products, while a quota is a ______ on imports from foreign countries.
the comparative advantage in production.
People can trade for those items they don't produce themselves.
limit
North Korea's literacy rate is so high yet its GDP per capita is so low.
Literacy Rate: 65%
Technology-based businesses are hugely successful in parts of India.
Japan's economy is already developed and robust.
Japan
Japan's GDP per capita is extremely high but their GDP growth rate shows their economy is shrinking. Why might this be the case?
the comparative advantage in production.
People can trade for those items they don't produce themselves.
limit
North Korea's literacy rate is so high yet its GDP per capita is so low.
Literacy Rate: 65%
Technology-based businesses are hugely successful in parts of India.
Japan's economy is already developed and robust.
Japan
India ranks in the bottom 25% in the world for Gross Domestic Product per capita. Which of these statistics BEST describes why this might be the case?
the comparative advantage in production.
People can trade for those items they don't produce themselves.
limit
North Korea's literacy rate is so high yet its GDP per capita is so low.
Literacy Rate: 65%
Technology-based businesses are hugely successful in parts of India.
Japan's economy is already developed and robust.
Japan
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