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The Most Important Concept Of International Trade Theory

Question

1. Karl Marx offers the most critical view of modern private property and free market institutions. Marx claims that free-market capitalism necessarily produces ______.

a. extremes of inefficiency

b. extremes of efficiency

c. extremes of equality

d. extremes of inequality

 

2. What is the most important concept in international trade theory?

a. free trade

b. absolute advantage

c. comparative advantage

d. means of production

 

Summary

These multiple choice questions belong to Economics. The 1st question discusses about what is Marx claim of free market capitalism necessarily produce and the 2nd question discusses about the most important concept of international trade theory.

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