Comparative advantage includes inherited resources, such as labor, climate, arable land, and petroleum reserves.

Question

Quizplus · Accepted Answer

Comparative advantage refers to the ability of a country to produce goods or services at a lower opportunity cost than others, which can indeed include factors like labor, climate, arable land, and petroleum reserves, as these inherited resources contribute to the efficiency and cost-effectiveness of production.

Comparative Advantage Includes Inherited Resources, Such as Labor, Climate, Arable