The Ability of One Person or Nation to Produce a Good

question 43

Multiple Choice

The ability of one person or nation to produce a good at a lower absolute cost than another is called a(n)

• A) market advantage.
• B) comparative advantage.
• C) absolute advantage.
• D) specialization advantage.

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Definitions:

Body Mass Index

A measure used to assess a person's body weight relative to their height, often used to categorize underweight, normal weight, overweight, and obesity.

Settling Point

The Settling Point theory suggests that body weight is regulated by a balance between energy intake (food) and energy expenditure, where the body naturally seeks to maintain an equilibrium or "settling point."

Serving Size

A standardised amount of food or drink, recommended as a portion for consumption, often used in nutritional labelling.

Social Facilitation

The tendency for people to perform differently, typically better, when in the presence of others than when alone.