________ is the ability of an individual, a firm, or a country to produce a good or service at a lower opportunity cost than competitors.
A)Absolute advantage
B)Specialisation
C)Autarky
D)Comparative advantage

Question

Quizplus · Accepted Answer

Comparative advantage is the ability to produce a good or service at a lower opportunity cost, which means sacrificing fewer alternative goods or services. It is different from absolute advantage, which refers to the ability to produce more goods or services using the same resources. Specialization and autarky are not directly related to the definition given in the question.

________ Is the Ability of an Individual, a Firm, or a Country