Trade between two or more than two countries is known as ________.a.External Tradeb.International Tradec.Unilateral Traded.Internal Business

Intra-industry trade occurs when a country tends to export one good and imports a wholly different type of good from another country.A. TrueB. False

What term describes an organization’s acquisition of goods and services from an outsidesource in another country?a. Globalizationb. Offshoringc. Exportingd. Global sourcing

4. When a country both exports and imports a type of commodity, the country is engaged inA) inter-industry trade.B) an attempt to monopolize the relevant industry.C) increasing returns to scale.D) intra-industry trade.E) imperfect competition

Goods and services produced in one country that are then sold in other countries are called ____________.Choose one answer from the options below.exportstradeable itemssurplus itemseconomic stimulants

Intra-industry trade will tend to dominate trade flows when which of the following exists?A) large differences between relative country factor availabilitiesB) small differences between relative country factor availabilitiesC) uneven distribution of abundant resources between two countriesD) homogeneous products that cannot be differentiatedE) constant cost industries