If one country can produce a good with fewer resources than another country,this is called:
A) specialisation.
B) geographic advantage.
C) comparative advantage.
D) absolute advantage.
E) free trade.
Correct Answer:
Verified
Q6: If a country's production possibilities equal its
Q7: A country is said to have an
Q7: Suppose that Spain has a comparative advantage
Q7: Without trade, the consumption possibilities for two
Q10: Australia largely exports _ and imports _.
A)manufactured
Q11: The theory of comparative advantage suggests:
A) that
Q11: Which of the following statements is true?
A)Comparative
Q12: If a nation follows a policy of
Q14: Narrbegin Exhibit 18.2 Production possibilities curves for
Q15: In terms of production possibilities curves, the
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