To be as well off as possible,a nation should produce

Question

Quizplus · Accepted Answer

This choice reflects the principle of comparative advantage, which states that a nation should specialize in producing the good it can produce most efficiently (i.e. at the lowest cost), even if it means producing a good that another nation can produce more efficiently. By doing so, a nation can minimize the resources required to produce the goods it needs and maximize its overall economic wellbeing.

To Be as Well Off as Possible,a Nation Should Produce