Canada is currently the second largest producer of nickel in the world.The reopening of the world famous Voisey's Bay mine, which has total resources estimated at 124 million tons of nickel-bearing ore, should give Canada a clear:
A)total advantage
B)advantageous competency
C)absolute advantage
D)core strength
E)comparative advantage

Question

Quizplus · Accepted Answer

A comparative advantage refers to a country's ability to produce a particular good at a lower opportunity cost than others. The reopening of Voisey's Bay mine enhances Canada's ability to produce nickel more efficiently compared to other countries, thus giving it a comparative advantage.

Canada Is Currently the Second Largest Producer of Nickel in the World.The