If one country can produce a good with fewer resources than another country, this is called:
A) specialisation.
B) geographic advantage.
C) comparative advantage.
D) absolute advantage.
Correct Answer:
Verified
Q3: Narrbegin Exhibit 18.1 Production possibilities curves
Q4: Narrbegin Exhibit 18.1 Production possibilities curves
Q5: Australia largely exports _ and imports _.
A)
Q6: If a country's production possibilities equal its
Q7: A country is said to have an
Q9: Narrbegin Exhibit 18.1 Production possibilities curves
Q11: The theory of comparative advantage suggests:
A) that
Q12: If a nation follows a policy of
Q12: Narrbegin Exhibit 18.1 Production possibilities curves
Q13: Specialisation and trade can:
A) only be useful
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