IF1 New Exam Bootcamp - IF1 Practical Information, Test IF1 Book - Championlandzone

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  • Vendor : CII
  • Certifications : Certificate in Insurance
  • Exam Name : Insurance Legal and Regulatory (IF1) Exam
  • Exam Code : IF1
  • Total Questions : 376 Q&As
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VCE Exam Simulator is a test engine designed specifically for certification exam preparation. It allows you to create, edit, and take practice tests in an environment very similar to an actual exam.


What is VCE Simulator?
VCE Exam Simulator is a test engine designed specifically for certification exam preparation. It allows you to create, edit, and take practice tests in an environment very similar to an actual exam.
SKU: IF1 Categories: ,

Description

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    NEW QUESTION: 1
    각국이 다른 국가보다 상대적으로 더 효율적으로 생산하는 제품 생산을 전문으로 하고 다른 국가에서 상대적으로 더 효율적으로 생산하는 제품을 수입하는 상황을 설명하는 데 사용되는 경제 용어는 무엇입니까?
    A. 상대 경쟁.
    B. 수익 감소.
    C. 무역 수지.
    D. 비교 우위.
    Answer: D
    Explanation:
    The relevant concept is comparative advantage, which compares the costs of inputs within a single country_ In contrast, the concept of absolute advantage with respect of inputs between countries. It is possible that a country might have an absolute advantage, with respect to every product, but comparative. advantage is different from absolute advantage. A particular nation can have a comparative advantage even though it does not have an absolute advantage. For example assume that Country A can produce Item for US $100 and Item Y for US $200 and that Country B earl produce Item X for US $50 and Item Y for US $150. B has an absolute advantage in the production of both procedures however, B has a comparative advantage in producing Item X 50 100, or 50% of the A cost compared with 150 200, or 75% of the A cost for Item Y)_ A has a comparative advantage in producing Item Y 200 150. or 133% of the B cost, versus 100 50, or 200% for Item X). A nation will benefit by exporting goods in which it has a comparative advantage and importing goods in which it does not have a comparative advantage. Total output will be maximized when each nation specializes in the products in which it has the greatest comparative advantage or the least comparative disadvantage.

    NEW QUESTION: 2

    A. Option D
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