What is a likely result of globalisation?
A.
Absolute advantage replaces comparative advantage as the basis for trade.
B.
Firms' supply chains are shortened.
C.
Trade is less likely to suffer from international economic shocks.
D.
There are higher standards of living.
Exam No：9708_w24_qp_32 Year：2024 Question No：30
Answer:
D
Knowledge points:
11.6.1 meaning of globalisation and its causes and consequences
11.6.2 distinction between a free trade area, a customs union, a monetary union and full economic union
Solution:
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