The cost of a choice is
A) the price of the product selected.
B) the price of the product not selected.
C) the next best opportunity.
D) all of the opportunities given up.
Correct Answer:
Verified
Q2: Trade between countries is based on
A)absolute advantage
Q3: A brand name is a type of
A)cost
Q4: In international trade the concept of 'relative
Q5: Property rights
A)only need to be found in
Q6: Property rights need to be secure
A)to promote
Q8: Buying a product in one market and
Q10: What incentive is created by a first-come
Q11: People trade because
A)they are able to take
Q12: Trade is promoted by
A)having a self-interested population.
B)proper
Q20: Without contracts, what type of transactions would
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