A Country Is Said to Have an Absolute Advantage in the Production

question 230

Multiple Choice

A country is said to have an absolute advantage in the production of a good when:

• A) its opportunity cost of producing the good is lower than another country.
• B) it can produce the good using fewer resources than another country.
• C) it specializes in the production of the good.
• D) all of these.

---

Definitions:

Preparation

The process of getting ready for an event or activity by making plans or arrangements.

Ground Rules

Basic guidelines or rules established at the beginning of a meeting, event, or project to ensure smooth operation and mutual respect among participants.

High-Ranking Executives

Individuals holding senior management positions within an organization, responsible for making major decisions and guiding the company's direction.

Time Limit

A fixed or defined duration within which an activity, task, or project must be started or completed.