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Question
Evaluate the impacts of opening foreign trade on the global economy by identifying the appropriate statements among the following options:
- The choice of goods in the markets increase.
- Producers from two countries closely compete against each other despite the distance between their locations.
- Foreign trade thus results in connecting the markets or integration of markets in different countries.
- The quality of the product is always good.
Options
Statements i and ii are appropriate.
Statements i, ii and iii are appropriate.
All the statements are appropriate.
Only statement iv is appropriate.
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Solution
Statements i, ii and iii are appropriate.
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