An Example of an Acquired Comparative Advantage Is

question 56

Multiple Choice

An example of an acquired comparative advantage is

• A) the United States producing more agricultural products than other countries because land is more abundant in the United States than in other countries.
• B) United States consumers buying television sets produced in Japan because Japanese companies have a reputation for producing a higher-quality TV than those produced in the United States.
• C) United States companies selling to other countries chemical products that cannot be sold in the United States.
• D) the United States purchasing coconuts from other countries, because they cannot be produced in the United States.

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Definitions:

Accounting Records

Documented evidence of a business's financial transactions, used for tracking and reporting purposes.

Current Year

The ongoing calendar year or fiscal year in which a business is operating.

FOB Shipping Point

A term used in shipping contracts indicating that the buyer is responsible for the goods and the shipping cost from the moment they leave the seller's premises.

Physical Inventory

The process of counting by hand the actual inventory available in a business at a specific time, typically done periodically.