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What does it mean when an economist says that an area specializes in producing certain products? a. They use their resources to produce a limited range of goods. b. They produce only certain
goods rather than everything they need. c. They produce only goods for which they have an export market. d. They use the money from their exports to buy food and fuel.
The answer is: B)They produce only certain goods rather than everything they need.
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User: definition for: The idea that a nation is better off when it produces goods and services for which it has a comparative advantage.

User: definition for: a good that is sent to another country for sale

User: What does it mean when an economist says that an area specializes in producing certain products? a. They use their resources to produce a limited range of goods. b. They produce only certain goods rather than everything they need. c. They produce only goods for which they have an export market. d. They use the money from their exports to buy food and fuel.

Weegy: The answer is: B)They produce only certain goods rather than everything they need.
Expert answered|kbhagi|Points 20|



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Asked 7/9/2013 11:57:35 AM
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When a nation imports more than it exports, economists say it has which of the following? a. a trade surplus c. a trade deficit b. a balance of trade d. a national difference
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Updated 3/27/2015 5:19:26 AM
1 Answer/Comment
When a nation imports more than it exports, economists say it has a trade deficit.
Added 3/27/2015 5:19:26 AM
This answer has been confirmed as correct, not copied, and helpful.
Confirmed by selymi [3/27/2015 5:20:43 AM]
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