A Country Has a Comparative Advantage in a Good If

question 9

Multiple Choice

A country has a comparative advantage in a good if:

• A) it can produce more of that good than any other country.
• B) it does not have an absolute advantage in that good.
• C) it has the lowest opportunity cost of producing that good.
• D) no other country is willing to buy that good from it.

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Definitions:

Willingness

The state of being prepared to engage in a particular action or process.

Decisions

The act of making a choice from among various options in the face of uncertainty or multiple possibilities.

Social Context

The environment of people, cultures, institutions, and norms that shape individuals' social interactions and behaviors.

Negotiators Interact

The process by which individuals engaged in negotiations communicate and respond to each other to reach an agreement.