A nation will have a(n)________ of a good when its production of that good is relatively more productive than that of another nation.
A) absolute advantage
B) comparative advantage
C) relative advantage
D) trade advantage

Question

Quizplus · Accepted Answer

The concept described in the statement is that of comparative advantage, which refers to a country's ability to produce a good at a lower opportunity cost than another country. It is not related to absolute advantage, relative advantage or trade advantage.

A Nation Will Have A(n)________ of a Good When Its