The Advantage in the Production of a Product Enjoyed by One

question 141

Multiple Choice

The advantage in the production of a product enjoyed by one country over another when it uses ________ to produce that product than the other country does is an absolute advantage.

• A) fewer resources
• B) more technology
• C) more labor
• D) more capital

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Definitions:

Active Management

A strategy where a fund manager makes specific investments with the goal of outperforming an investment benchmark index.

Growth Limitations

Growth limitations refer to the factors or conditions that can hinder or restrain the expansion or progress of a company or economy.

Double Taxation

A taxation principle referring to income taxes paid twice on the same source of earned income, it can occur when income is taxed at both the corporate level and personal level.

Debt Obligations

The amount of money that a company or individual must repay to lenders, including both the principal and interest.