객관식
Which of the following was an economic impact of the mandate system established after World War I?
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0. Basic Principles of Economics
Introduction to Economics
객관식
The trade described in the passage is best seen as an early example of which of the following?
A
Comparative advantage
B
Price discrimination
C
Market failure
D
Monopolistic competition
검증된 단계별 안내1
Step 1: Understand the concept of comparative advantage, which occurs when a party can produce a good or service at a lower opportunity cost than another, leading to mutually beneficial trade.
Step 2: Review the other options: price discrimination (charging different prices to different consumers), market failure (when markets do not allocate resources efficiently), and monopolistic competition (a market structure with many firms selling differentiated products).
Step 3: Analyze the trade described in the passage to determine if it involves parties specializing based on their lower opportunity costs, which is the hallmark of comparative advantage.
Step 4: Confirm that the trade benefits both parties by allowing them to consume more than they could without trade, indicating gains from specialization and exchange.
Step 5: Conclude that the trade exemplifies comparative advantage because it highlights how differences in opportunity costs drive beneficial trade, rather than the other concepts listed.
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