Comparative Advantage Arises Because

question 10

Multiple Choice

Comparative advantage arises because

• A) all resources are equally effective in the production of goods.
• B) the division of labor increases efficiency.
• C) the division of labor helps markets function effectively.
• D) not all resources are equally effective in the production of goods.

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Definitions:

Workers' Compensation Rates

The cost charged to employers for workers' compensation insurance, varying based on job risk levels and company safety records.

Medical and Insurance Costs

Expenses related to health care services, procedures, and health insurance premiums, which are a significant concern for individuals, families, and employers.

Psychological Condition

Refers to the state of one's mental and emotional health, encompassing various mental health issues, illnesses, and disorders.

Carpal Tunnel Syndrome

A medical condition caused by compression of the median nerve as it travels through the wrist at the carpal tunnel, leading to numbness, tingling, and weakness in the hand.