A Country Has an Absolute Advantage in Production If

question 36

Multiple Choice

A country has an absolute advantage in production if:

• A) it can produce the same good using fewer inputs than another country.
• B) it can produce a good using fewer inputs than it takes another country to produce a different good.
• C) other countries can produce the same good using fewer inputs.
• D) it has the lowest opportunity cost of producing a good.

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Definitions:

Power

The capability to control or affect how others act or how situations unfold.

Deficiency Needs

according to Maslow's hierarchy, are the basic requirements for human survival and psychological well-being, including physiological needs, safety, love/belonging, and esteem needs.

Maslow's Hierarchy

A theory in psychology proposed by Abraham Maslow, suggesting that people are motivated by five basic categories of needs: physiological, safety, love/belonging, esteem, and self-actualization, in that order.

High Achievement Motivation

A psychological trait that drives individuals to pursue and meet high standards of accomplishment.