Are We Better Off if We Buy Local? Practice Questions

True or False: Buying from your local farmer’s market ensures that your money stays in the local economy. *

a. True

b. False

If everyone agreed to buy locally, *

The concept “buy local” means buying products and services made *

What are some reasons that a buy local strategy might conflict with some of the concepts covered in earlier videos to explain The Hockey Stick of Human Prosperity? *

a. Specialization and the division of labor expand as the market gets larger

b. The larger the market, the more technology and machinery you can apply to increase efficiency

c. Larger markets allow for more specialization of knowledge

d. Trading with people further away would allow for more gain from the benefits of comparative advantage

e. All of the above

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Are We Better Off if We Buy Local? Practice Questions

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