Question

Selling a used textbook online does not involve markets because the book has already been sold once before.

True

False

When countries specialize in producing a particular product and trade products they don't produce, it will generally lead to a worse outcome than if every country produces all the products as best they can.

True

False

Free trade is known as a _____ game because ____.

	a.	positive-sum; one trader's gain is another's loss
	b.	positive-sum; both parties to a transaction can achieve positive gains
	c.	zero-sum; one trader's gain is another's loss
	d.	zero-sum; both parties to a transaction can achieve positive gains

Answer 1

Answer)

Selling a used textbook online does not involve markets because the book has already been sold once before.

True

When countries specialize in producing a particular product and trade products they don't produce, it will generally lead to a worse outcome than if every country produces all the products as best they can.

False

Free trade is known as a _____ game because ____.

b.

positive-sum; both parties to a transaction can achieve positive gains

So, option B is correct.

If you have any doubts please comment...