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16.) Vilas was an eleven-year old boy residing in the same village as Sakal. Vila'sfather Mahesh was a fisherman. His father passed away when he was only two yearsold. His mother Geeta sold fish to earn money to feed the family. She could earn only3150 a day by selling fish. Vilas became a patient of arthritis. His mother could notafford to take him to the doctor. He could not go to school either. He helped hismother in cooking and also He helped his mother in cooking and also looked after thisyounger brother Mohan.The case given above indicates which type of economic phenomenon?a.) Vicious cycleb.) Virtuous cyclec.) Static cycled.) Continuous cycle |
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Answer» Answer: Explanation: Trade barriers PROTECT domestic INDUSTRY and jobs. WORKERS in export industries benefit from trade. Moreover, all workers are CONSUMERS and benefit from the expanded market choices and lower PRICES that trade brings. |
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