Comparative Advantage Is

question 475

Multiple Choice

Comparative advantage is

• A) the ability to perform an activity at a zero opportunity cost.
• B) identical to absolute advantage.
• C) the ability to perform an activity at a higher opportunity cost than anyone else.
• D) the ability to perform an activity at a lower opportunity cost than anyone else.

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Definitions:

Responsibilities

Duties or tasks that someone is required or expected to carry out, often as part of their role in a job, family, or society.

Scientific Management

A theory of management that analyzes and synthesizes workflows to improve economic efficiency, especially labor productivity.

Frederick Taylor

A mechanical engineer and management consultant known as the father of scientific management, emphasizing efficiency and systematic planning in the workplace.

Developed

A state or condition where something or someone has reached an advanced stage of growth, evolution, or progress.