A Person Has a Comparative Advantage in an Activity If

question 11

Multiple Choice

A person has a comparative advantage in an activity if that person can

• A) produce more goods in a given amount of time than another person.
• B) produce fewer goods in a given amount of time than another person.
• C) perform the activity at a lower opportunity cost than anyone else.
• D) perform that activity at a higher opportunity cost than anyone else.

---

Definitions:

Utilitarianism

An ethical theory that suggests an action is right if it benefits the greatest number of people.

Business Intelligence

The strategies and technologies used by enterprises for data analysis of business information to support decision making.

Oligopoly

A market structure dominated by a small number of firms, leading to limited competition and possibly higher prices for consumers.

Utilitarianism

An ethical theory that suggests the best action is the one that maximizes utility, typically defined as that which produces the greatest well-being of the greatest number of people.