Utilizing comparative advantage can best be exemplified as:
A) your lawyer word-processing her own legal briefs.
B) the CEO of Microsoft programming his own computer.
C) the president of your university teaching a class again.
D) a world-renowned chef hiring someone to cook meals for his family.

Question

Quizplus · Accepted Answer

Utilizing comparative advantage means focusing on the tasks that you are most efficient at and outsourcing the tasks you are less efficient at to others. A world-renowned chef hiring someone to cook meals for his family is the best example of this principle. The chef can focus on creating new recipes and training staff while outsourcing the cooking of meals to someone who may be less skilled but more efficient at it.

Utilizing Comparative Advantage Can Best Be Exemplified As