Which of the following is an element of the comparative advantage principle?

Question

Quizplus · Accepted Answer

The principle of comparative advantage involves the relative efficiency of production, meaning a country, company, or individual can produce a good at a lower opportunity cost than another. This concept does not directly relate to the absolute cost of production or the balance of trade but rather focuses on the efficiency and opportunity cost of producing one good over another.

Which of the Following Is an Element of the Comparative