Which Statement Is TRUE

question 73

Multiple Choice

Which statement is TRUE?

• A)Some very talented people have a comparative advantage in everything they do.
• B)Some very untalented people have a comparative advantage in nothing they do.
• C)Some very talented people have a very low opportunity cost in everything they do.
• D)It is possible to have an absolute disadvantage but a comparative advantage in something.

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Definitions:

Gain From Trade

Refers to the increase in output and consumption that countries experience through specialization and exchange of goods and services.

Production Possibilities Frontier

An illustration that represents the utmost production capabilities for any two commodities, based on a combination of inputs like resources and additional elements.

Self-sufficiency

The ability of an individual, household, or nation to meet all their needs without external assistance.

Opportunity Cost

The price paid for not choosing the next most favorable opportunity when making a choice or decision.