MATCHING
Complete the following using the terms listed.
-A country has _____ in the marketing of a product if it has the ability to produce one good at a lower opportunity cost than other goods.
A)embargo
B)balance of trade
C)joint venture
D)dumping
E)import
F)tariff
G)International Monetary Fund
H)World Trade Organization
I)multinational corporation (MNC)
J)devaluation
K)exchange rate
L)absolute advantage
M)trade surplus
N)quota
O)World Bank
P)balance of payments
Q)comparative advantage

Question

Quizplus · Accepted Answer

The term "comparative advantage" refers to a country's ability to produce a good at a lower opportunity cost than other goods. This means that the country can produce and sell the good at a lower price compared to other countries, giving it a competitive advantage in the global market.

MATCHING Complete the Following Using the Terms Listed