In the Context of International Trade, Which of the Following

question 126

Multiple Choice

In the context of international trade, which of the following statements is true of comparative advantage?

• A) It is the tendency of a country to choose goods that have a higher opportunity cost compared to other countries.
• B) As technology changes, nations may gain or lose comparative advantage in various industries.
• C) It is subjected to the industries in developing countries facing major trade barriers.
• D) Despite evolving workforces, developing countries maintain a static comparative advantage.

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Social Status

The position or rank of a person or group within the hierarchy of a society, determined by various factors including wealth, occupation, education, and family background.

Division of Labour

The assignment of different parts of a manufacturing process or task to different people in order to improve efficiency.

Mary Parker Follett

An early 20th-century social worker and management consultant who introduced concepts of conflict resolution, leadership, and the importance of people in the workplace.

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