A country should produce a good if it has a lower opportunity cost for producing that good than another country.

Name: A country should produce a good if it has a lower opportunity cost for producing that good than another country.
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Question

Quizplus · Accepted Answer

This is the principle of comparative advantage, which suggests that countries should specialize in producing goods for which they have the lowest opportunity cost, leading to more efficient global production and trade.

A Country Should Produce a Good If It Has a Lower