Which of the following terms refers to a mutual benefit in the exchange of goods between countries, where each country exports those products in which it is relatively more efficient in production than other countries?
A) comparative advantage
B) collective bargaining
C) competitive advantage
D) control system

Question

Quizplus · Accepted Answer

The term that refers to mutual benefit in the exchange of goods between countries, where each country exports those products in which it is relatively more efficient in production than other countries, is comparative advantage. This theory was first introduced by economist David Ricardo in the early 19th century.

Which of the Following Terms Refers to a Mutual Benefit