If countries specialized their production on the basis of comparative advantage, the world's total output would be produced faster, but would be no larger than without such specialization.

Question

Quizplus · Accepted Answer

Specializing based on comparative advantage not only increases the efficiency of production, leading to goods being produced faster, but also increases the world's total output because resources are allocated more efficiently, allowing for more total goods to be produced.

If Countries Specialized Their Production on the Basis of Comparative