Modern business executives use the term comparative advantage when referring to the assets of individual firms.

Name: Modern business executives use the term comparative advantage when referring to the assets of individual firms.
Brand: Quizplus
Rating: 4.8 (53 reviews)

Question

Quizplus · Accepted Answer

Comparative advantage is a term primarily used in economics to describe a country's ability to produce goods and services at a lower opportunity cost than its trade partners, rather than referring to the assets of individual firms.

Modern Business Executives Use the Term Comparative Advantage When Referring