International Specialization - Advantages and Disadvantages

State whether the following statement is an advantage or disadvantage of international specialization:

A country will experience a higher level of output (more goods and services can be produced).

• Advantage

• Disadvantage

State whether the following statement is an advantage or disadvantage of international specialization:

Other countries may have lower health and safety standards.

• Advantage

• Disadvantage

State whether the following statement is an advantage or disadvantage of international specialization:

Consumer preferences change. They may not demand the specialised product anymore.

• Advantage

• Disadvantage

State whether the following statement is an advantage or disadvantage of international specialization:

Consumers will have a variety of goods and services to choose from.

• Advantage

• Disadvantage

State whether the following statement is an advantage or disadvantage of international specialization:

Natural resources may be finished at a faster rate.

• Advantage

• Disadvantage

State whether the following statement is an advantage or disadvantage of international specialization:

The citizens of a country may experience an increase in living standards.

• Advantage

• Disadvantage

State whether the following statement is an advantage or disadvantage of international specialization:

Firms can take advantage of economies of scale. The cost of production will decrease.

• Advantage

• Disadvantage

State whether the following statement is an advantage or disadvantage of international specialization:

A country may become a monopoly for a specific product and control the price and supply of a product.

• Advantage

• Disadvantage

State whether the following statement is an advantage or disadvantage of international specialization:

When the demand for a country’s goods decreases there will be an increase in unemployment in that country.

• Advantage

• Disadvantage

State whether the following statement is an advantage or disadvantage of international specialization:

Foreign competition may pose a threat to the unspecialised industries of a country.

• Advantage

• Disadvantage