According to the theory of _____,it makes sense for a country to specialize in producing the goods it produces most efficiently and buy the products it produces less efficiently from other countries,even if it could produce the good more efficiently itself.

Question

Quizplus · Accepted Answer

The theory described is the principle of comparative advantage, which states that countries should focus on producing goods for which they have the lowest opportunity cost and import goods for which they have a higher opportunity cost. This allows for increased efficiency and overall benefits to global trade.

According to the Theory of _____,It Makes Sense for a Country