Refer to the 2nd and 3rd sentences of the
passage, ' ... produce only one, or at most a
few, varieties and styles ... This is crucial in
keeping the costs low ... '
UGC NET Paper1 Previous Year Solved Papers MCQ - 2nd December 2019 Evening Shift
Read the following passage
carefully and answer the question.
Intra-industry trade arises in order to take advantage of important economies of scale in production. That is, international competition forces each firm or plant in industrial countries to produce only one, or at most a few, varieties and styles of the same product rather than many different varieties and styles. This is crucial in keeping unit costs low. With few varieties and styles, more specialized and faster machinery can be developed for continuous operation and a longer production run. The nation then imports other varieties and styles from other nations. Intra-industry trade benefits consumers because of the wider range of choices. i.e., the greater variety of differentiated products, available at lower prices made possible by economies of scale in production. Because of this, large welfare gains arise from the ability of consumers to greatly increase the variety of goods that they can purchase through trade. The importance of intra-industry trade became apparent when tariffs and other obstructions to the flow of trade among members of the European Union or common market were removed in 1958. It was found that the volume of trade surged but most of the increase involved the exchange of differentiated products within each broad industrial classification.
Intra-industry trade arises in order to take advantage of important economies of scale in production. That is, international competition forces each firm or plant in industrial countries to produce only one, or at most a few, varieties and styles of the same product rather than many different varieties and styles. This is crucial in keeping unit costs low. With few varieties and styles, more specialized and faster machinery can be developed for continuous operation and a longer production run. The nation then imports other varieties and styles from other nations. Intra-industry trade benefits consumers because of the wider range of choices. i.e., the greater variety of differentiated products, available at lower prices made possible by economies of scale in production. Because of this, large welfare gains arise from the ability of consumers to greatly increase the variety of goods that they can purchase through trade. The importance of intra-industry trade became apparent when tariffs and other obstructions to the flow of trade among members of the European Union or common market were removed in 1958. It was found that the volume of trade surged but most of the increase involved the exchange of differentiated products within each broad industrial classification.
Read the following passage
carefully and answer the question.
Intra-industry trade arises in order to take advantage of important economies of scale in production. That is, international competition forces each firm or plant in industrial countries to produce only one, or at most a few, varieties and styles of the same product rather than many different varieties and styles. This is crucial in keeping unit costs low. With few varieties and styles, more specialized and faster machinery can be developed for continuous operation and a longer production run. The nation then imports other varieties and styles from other nations. Intra-industry trade benefits consumers because of the wider range of choices. i.e., the greater variety of differentiated products, available at lower prices made possible by economies of scale in production. Because of this, large welfare gains arise from the ability of consumers to greatly increase the variety of goods that they can purchase through trade. The importance of intra-industry trade became apparent when tariffs and other obstructions to the flow of trade among members of the European Union or common market were removed in 1958. It was found that the volume of trade surged but most of the increase involved the exchange of differentiated products within each broad industrial classification.
Intra-industry trade arises in order to take advantage of important economies of scale in production. That is, international competition forces each firm or plant in industrial countries to produce only one, or at most a few, varieties and styles of the same product rather than many different varieties and styles. This is crucial in keeping unit costs low. With few varieties and styles, more specialized and faster machinery can be developed for continuous operation and a longer production run. The nation then imports other varieties and styles from other nations. Intra-industry trade benefits consumers because of the wider range of choices. i.e., the greater variety of differentiated products, available at lower prices made possible by economies of scale in production. Because of this, large welfare gains arise from the ability of consumers to greatly increase the variety of goods that they can purchase through trade. The importance of intra-industry trade became apparent when tariffs and other obstructions to the flow of trade among members of the European Union or common market were removed in 1958. It was found that the volume of trade surged but most of the increase involved the exchange of differentiated products within each broad industrial classification.
Refer to the sentences, 'With few varieties
and styles, more specialised and faster
machinery can be developed ... The nation
then imports other varieties and styles from
other nations. '
Read the following passage
carefully and answer the question.
Intra-industry trade arises in order to take advantage of important economies of scale in production. That is, international competition forces each firm or plant in industrial countries to produce only one, or at most a few, varieties and styles of the same product rather than many different varieties and styles. This is crucial in keeping unit costs low. With few varieties and styles, more specialized and faster machinery can be developed for continuous operation and a longer production run. The nation then imports other varieties and styles from other nations. Intra-industry trade benefits consumers because of the wider range of choices. i.e., the greater variety of differentiated products, available at lower prices made possible by economies of scale in production. Because of this, large welfare gains arise from the ability of consumers to greatly increase the variety of goods that they can purchase through trade. The importance of intra-industry trade became apparent when tariffs and other obstructions to the flow of trade among members of the European Union or common market were removed in 1958. It was found that the volume of trade surged but most of the increase involved the exchange of differentiated products within each broad industrial classification.
Intra-industry trade arises in order to take advantage of important economies of scale in production. That is, international competition forces each firm or plant in industrial countries to produce only one, or at most a few, varieties and styles of the same product rather than many different varieties and styles. This is crucial in keeping unit costs low. With few varieties and styles, more specialized and faster machinery can be developed for continuous operation and a longer production run. The nation then imports other varieties and styles from other nations. Intra-industry trade benefits consumers because of the wider range of choices. i.e., the greater variety of differentiated products, available at lower prices made possible by economies of scale in production. Because of this, large welfare gains arise from the ability of consumers to greatly increase the variety of goods that they can purchase through trade. The importance of intra-industry trade became apparent when tariffs and other obstructions to the flow of trade among members of the European Union or common market were removed in 1958. It was found that the volume of trade surged but most of the increase involved the exchange of differentiated products within each broad industrial classification.
Refer to the sentences, 'The importance of
intra-industry trade .......... It was found that
volume of trade surged. .. '
Read the following passage
carefully and answer the question.
Intra-industry trade arises in order to take advantage of important economies of scale in production. That is, international competition forces each firm or plant in industrial countries to produce only one, or at most a few, varieties and styles of the same product rather than many different varieties and styles. This is crucial in keeping unit costs low. With few varieties and styles, more specialized and faster machinery can be developed for continuous operation and a longer production run. The nation then imports other varieties and styles from other nations. Intra-industry trade benefits consumers because of the wider range of choices. i.e., the greater variety of differentiated products, available at lower prices made possible by economies of scale in production. Because of this, large welfare gains arise from the ability of consumers to greatly increase the variety of goods that they can purchase through trade. The importance of intra-industry trade became apparent when tariffs and other obstructions to the flow of trade among members of the European Union or common market were removed in 1958. It was found that the volume of trade surged but most of the increase involved the exchange of differentiated products within each broad industrial classification.
Intra-industry trade arises in order to take advantage of important economies of scale in production. That is, international competition forces each firm or plant in industrial countries to produce only one, or at most a few, varieties and styles of the same product rather than many different varieties and styles. This is crucial in keeping unit costs low. With few varieties and styles, more specialized and faster machinery can be developed for continuous operation and a longer production run. The nation then imports other varieties and styles from other nations. Intra-industry trade benefits consumers because of the wider range of choices. i.e., the greater variety of differentiated products, available at lower prices made possible by economies of scale in production. Because of this, large welfare gains arise from the ability of consumers to greatly increase the variety of goods that they can purchase through trade. The importance of intra-industry trade became apparent when tariffs and other obstructions to the flow of trade among members of the European Union or common market were removed in 1958. It was found that the volume of trade surged but most of the increase involved the exchange of differentiated products within each broad industrial classification.
Refer to the lines, 'Intra-industry trade
benefits consumers because of the wider
range of choices .... large welfare gains arise
from the ability of consumers to greatly
increase the variety of goods that they can
purchase through trade.'
Read the following passage
carefully and answer the question.
Intra-industry trade arises in order to take advantage of important economies of scale in production. That is, international competition forces each firm or plant in industrial countries to produce only one, or at most a few, varieties and styles of the same product rather than many different varieties and styles. This is crucial in keeping unit costs low. With few varieties and styles, more specialized and faster machinery can be developed for continuous operation and a longer production run. The nation then imports other varieties and styles from other nations. Intra-industry trade benefits consumers because of the wider range of choices. i.e., the greater variety of differentiated products, available at lower prices made possible by economies of scale in production. Because of this, large welfare gains arise from the ability of consumers to greatly increase the variety of goods that they can purchase through trade. The importance of intra-industry trade became apparent when tariffs and other obstructions to the flow of trade among members of the European Union or common market were removed in 1958. It was found that the volume of trade surged but most of the increase involved the exchange of differentiated products within each broad industrial classification.
Intra-industry trade arises in order to take advantage of important economies of scale in production. That is, international competition forces each firm or plant in industrial countries to produce only one, or at most a few, varieties and styles of the same product rather than many different varieties and styles. This is crucial in keeping unit costs low. With few varieties and styles, more specialized and faster machinery can be developed for continuous operation and a longer production run. The nation then imports other varieties and styles from other nations. Intra-industry trade benefits consumers because of the wider range of choices. i.e., the greater variety of differentiated products, available at lower prices made possible by economies of scale in production. Because of this, large welfare gains arise from the ability of consumers to greatly increase the variety of goods that they can purchase through trade. The importance of intra-industry trade became apparent when tariffs and other obstructions to the flow of trade among members of the European Union or common market were removed in 1958. It was found that the volume of trade surged but most of the increase involved the exchange of differentiated products within each broad industrial classification.
50
Which of the following will show the impact of
international competition on inter-industry trade?
Refer to the sentence, ' ... , international
competition forces each firm or plant in
industrial countries to produce only one,
or at most a few, varieties and styles of the
same product rather than many different
varieties and styles.
