A country enjoys a comparative advantage in the production of a good if
A) that good can be produced at a lower cost in terms of other goods.
B) that good can be produced at a lower monetary cost.
C) it uses fewer resources to produce that product than the other country does.
D) it uses more resources to produce that product than the other country does.
Correct Answer:
Verified
Q1: The following chart shows world growth in
Q2: Which of the following statements are true?
(i)
Q3: If Argentina has an absolute advantage in
Q4: Sweaters are produced using wool and labour.
Q6: For a given amount of resources, Japan
Q7: A variety of factors can make trade
Q8: Which of the following statements is not
Q9: Which of the following statements is false?
Q10: Which of the following would be classed
Q11: Which of the following is not a
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