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Economics (AS & A Level) · Oct / Nov 2024 · Paper 32 · Question 30

9708Globalisation

What is a likely result of globalisation?

  1. AAbsolute advantage replaces comparative advantage as the basis for trade.
  2. BFirms' supply chains are shortened.
  3. CTrade is less likely to suffer from international economic shocks.
  4. DThere are higher standards of living.

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Correct answer: D. There are higher standards of living.

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