If a Nation Has an Absolute Advantage in the Production

question 35

Multiple Choice

If a nation has an absolute advantage in the production of a good it

• A) can benefit by restricting imports of that good.
• B) will specialise in the production of that good and export it.
• C) can produce that good using fewer resources than its trading partner.
• D) can produce that good at a lower opportunity cost than its trading partner.

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Definitions:

Salutary Goals

Objectives intended to promote health or well-being.

Remedial Goals

Objectives set to correct or improve a deficiency or problem, often used in educational, therapeutic, or personal development contexts.

Outcome Goals

The desired achievements or outcomes that individuals or groups aim for in a specific period.

Subgoals

Smaller, more manageable objectives set as part of the process to achieve a larger goal.