A person is able to obtain goods at prices that are less than that person's opportunity cost because each person concentrates on the activity for which he or she has the lower opportunity cost.

Question

Quizplus · Accepted Answer

This is one of the main principles of comparative advantage in economics. By specializing in the activity for which they have a lower opportunity cost, individuals and countries can produce goods more efficiently and trade with others to obtain goods at lower prices than they would be able to produce themselves.

A Person Is Able to Obtain Goods at Prices That