Economics · International Trade
Which of the following is a direct economic benefit or advantage of foreign competition?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Absolute conservation of foreign exchange reserves
- 2Automatic expansion of foreign markets
- 3Incentive for domestic firms to produce efficiently✓
- 4No requirement to develop new products
Correct answer
Incentive for domestic firms to produce efficiently
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