Country Z Can Produce Pig Iron More Efficiently Than Any

question 29

Multiple Choice

Country Z can produce pig iron more efficiently than any other goods.Which type of advantage in pig iron does Country Z have?

• A) absolute advantage
• B) national competitive advantage
• C) comparative advantage
• D) monopolistic advantage
• E) resource advantage

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Definitions:

Scalar Chain

The line of authority in an organization that runs from top management to the lowest ranks in a hierarchical order.

Scientific Management

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

Systematic Observation

A structured method of data collection where the observer follows a strict protocol to record behavior or phenomena, minimizing bias.

Experimentation

The process of conducting a controlled test or investigation to explore hypotheses, observe effects, and gain new knowledge, commonly used in scientific research, product development, and process improvement.