A Country Is Likely to Have a Comparative Advantage in a Capital-Intensive

question 106

Multiple Choice

A country is likely to have a comparative advantage in a capital-intensive activity if it has a:

• A)lot of land relative to its population.
• B)large amount of capital relative to its landmass.
• C)higher opportunity cost of producing technology.
• D)higher amount of labor relative to its population.

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Definitions:

Cost Accounting Systems

The methods and techniques used to monitor, record, and analyze costs associated with the production of goods and services.

Manufacturing Operations

Processes involved in the production of goods, encompassing all activities from raw material procurement to final product delivery.

Product Cost

The total of all costs associated with making a product, including raw materials, labor, and overhead.

Factory Machinery

Refers to the set of equipment and mechanical devices used in a manufacturing plant to produce goods.