Mewpeth, an Asian nation, is the world's largest producer of cotton. The country was able to achieve this status by increasing the production of cotton and compromising on the production of wheat. The given scenario exemplifies the concept of _____.
A) an absolute advantage
B) opportunity cost
C) balance of payments
D) a strategic alliance

Question

Quizplus · Accepted Answer

The scenario exemplifies opportunity cost, as Mewpeth increased cotton production at the expense of wheat production, indicating a trade-off between the two.

Mewpeth, an Asian Nation, Is the World's Largest Producer of Cotton