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:

Conformity

The action or behavior of aligning with group norms, values, or expectations, often due to peer pressure or the desire for social acceptance.

Social Loafing

The phenomenon where individuals exert less effort to achieve a goal when they work in a group than when they work alone.

Nominal Groups

A technique involving individuals working independently on idea generation before coming together as a group to discuss and evaluate these ideas.

Brainstorming Teams

Groups specifically formed to generate a wide range of ideas and solutions for specific problems or challenges in a nonjudgmental environment.