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Development Economics
» Geography and Development 1 »
Geography and Development, Trade
» Geography and Development, Trade - Practice Questions
Geography and Development, Trade - Practice Questions
1. According to economist David Ricardo, when two countries specialize in their _______________ and trade, both are better off.
*
comparative advantage
firms with the greatest economies of scale
both a. and b.
2. According to economist Adam Smith, the division of labor is limited by ____________________.
*
the extent of the market
the productivity of the workers
the relative cost of capital
3. One study found that countries which are landlocked tend to have GDP _____________ countries that are close to a waterway.
*
as high as
lower than
the same as
