The Advantage in the Production of a Product Enjoyed by One

question 41

Multiple Choice

The advantage in the production of a product enjoyed by one country over another when it uses fewer resources to produce that product than the other country does is

• A) an absolute advantage.
• B) a comparative advantage.
• C) a relative advantage.
• D) a productive advantage.

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Definitions:

Special Order

Special order is an order for products or services that is outside the company's normal scope of operations or production schedules, often requiring unique specifications.

Variable Selling

Expenses related to selling that vary directly with the level of sales activity, such as commissions and shipping charges.

Financial Advantage

A benefit gained in financial terms, often seen as the edge that one company or entity has over its competitors in terms of cost, efficiency, or profitability.

Special Discounted Price

A reduced pricing offer made available to customers, often as a promotional or loyalty incentive.