The Concept of Comparative Advantage in International Trade Is Based

question 9

Multiple Choice

The concept of comparative advantage in international trade is based on ________ as opposed to absolute costs.

• A)relative prices
• B)absolute prices
• C)opportunity costs
• D)average cost
• E)total cost

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Definitions:

Narcissism

A personality trait characterized by an inflated sense of self-importance, deep need for excessive attention and admiration, troubled relationships, and a lack of empathy for others.

Self-centred

A personality trait that involves prioritizing one's own needs and interests over those of others.

Freudian Perspective

This perspective, based on the theories of Sigmund Freud, emphasizes the importance of the unconscious mind, sexual and aggressive instincts, and early childhood experiences.

Psychodynamic Theories

A group of theories originated by Sigmund Freud that emphasize the influence of the unconscious mind on behavior.