Comparativeadvantage is measured in terms of _____

Name: Comparativeadvantage is measured in terms of _____
Brand: Quizplus
Rating: 4.8 (53 reviews)

Question

Quizplus · Accepted Answer

Comparative advantage is the ability of a country, firm, or individual to produce a good or service at a lower opportunity cost than other competitors. It is measured in terms of opportunity costs, which is the cost of giving up one opportunity in order to pursue another. Therefore, the best choice is A, opportunity costs.

Comparativeadvantage Is Measured in Terms of _____