If a Nation Can Produce a Good or Service at the Lowest

question 42

Multiple Choice

If a nation can produce a good or service at the lowest opportunity cost, then it

• A) does not want to export the good because the low cost means it makes only a low profit.
• B) will definitely import the good because it can beat other countries' prices.
• C) is best for the nation to not trade the good internationally.
• D) might export or import the good, depending on whether or not it has a comparative advantage in the production of the good.
• E) can sell the product at a lower price than other nations.

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Definitions:

Work-Life Balance

The equilibrium between personal life and career work, aimed at reducing stress and enhancing well-being by adequately managing time and responsibilities.

Retaining Employees

The strategies and practices employed by organizations to prevent staff from leaving their jobs.

Internal Attributions

These are explanations for an individual's behavior that relate to their personal characteristics, abilities, or efforts.

Positive Events

Occurrences that have a favorable impact on individuals or groups, often leading to feelings of happiness, satisfaction, or fulfillment.