Solved

The Difference Between Absolute and Comparative Advantage Is That

Question 33

Multiple Choice

The difference between absolute and comparative advantage is that:

A) absolute advantage refers to input cost,while comparative advantage refers to opportunity cost.
B) absolute advantage refers to opportunity cost,while comparative advantage refers to input cost.
C) absolute advantage refers to individuals,and comparative advantage refers to countries.
D) absolute advantage refers to countries,and comparative advantage refers to individuals.
E) absolute advantage is applicable to intranational trade,while comparative advantage applies to international trade.

Correct Answer: