The cost of raw materials and labour used in producing a good decides whether an economy has a comparative advantage in the production of the good.

Name: The cost of raw materials and labour used in producing a good decides whether an economy has a comparative advantage in the production of the good.
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Question

Quizplus · Accepted Answer

The cost of raw materials and labour is just one factor that can determine comparative advantage in production. Other factors such as technology, infrastructure, and natural resources also play a role.

The Cost of Raw Materials and Labour Used in Producing