A Country That Has an Absolute Advantage in Producing All

question 25

Multiple Choice

A country that has an absolute advantage in producing all goods will usually .

• A) produce all goods at lowest opportunity cost
• B) not gain from specialization and trade
• C) have a comparative advantage in all goods
• D) have a comparative advantage in some goods but not all

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Definitions:

Disadvantages

The negative or less favorable aspects of something that tend to hinder or lower its effectiveness, appeal, or usability.

Mangrove Forests

Coastal ecosystems characterized by mangrove trees, which are uniquely adapted to thrive in salty and brackish waters.

Large Amounts

Refers to quantities that are considerably above the average or expected size, number, or degree.

Highly Efficient

Describes a system or process that achieves maximum productivity with minimum wasted effort or expense.