If a Nation Does Not Have an Absolute Advantage in Producing

question 87

Multiple Choice

If a nation does not have an absolute advantage in producing anything, it

• A)has no comparative advantage either.
• B)will have a comparative advantage in the activity in which it is least inefficient.
• C)will try to get along without trade.
• D)will export raw materials and import finished products.

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Definitions:

Marxism

A socio-economic theory proposed by Karl Marx, focusing on the struggle between social classes, particularly between the bourgeoisie and the proletariat.

Social Darwinist

Refers to the application of the natural selection theory to social, political, and economic issues, proposing that success and failure in these spheres are governed by natural laws.

Survival of the Fittest

is a concept from evolutionary theory, suggesting that individuals or species that are best adapted to their environment are more likely to survive and reproduce.

Front Region

A term from Erving Goffman's dramaturgical analysis referring to social settings where individuals perform specific roles for an audience, adhering to societal norms and expectations.