Individuals a and B Can Both Produce Good X

question 25

Multiple Choice

Individuals A and B can both produce good X.We say that A has a comparative advantage in the production of good X if

• A)A has a lower opportunity cost of producing X than B.
• B)A has a higher opportunity cost of producing X than B.
• C)A can produce more units of X in a given time period than B.
• D)A can produce X using newer technology than B.
• E)A can produce less units of X in a given time period than B.

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Definitions:

Principles

Fundamental truths or propositions that serve as the foundation for a system of belief, behavior, or chain of reasoning.

Surveillance State

A concept where the government extensively monitors the activities and communications of its citizens, typically through the use of technology.

Aadhaar

An unique identification number issued by the Indian government to residents, facilitating access to services and serving as proof of identity.

Ethical Standards

The principles that guide behavior in the world of business, dictating the actions that are right or wrong in the workplace and beyond.