The Theory of Comparative Advantage States That Even If a Country

question 3

True/False

The theory of comparative advantage states that even if a country does not have absolute advantage in production, the country can still profitably specialize if the country is relatively more efficient.

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Definitions:

Multinational Firms

Companies that operate in multiple countries, managing production or delivering services in more than one country.

Social Expectation

A societal norm that sets the standards for the behavior that individuals within a group, society, or culture are expected to follow.

Late

Pertains to occurring, acting, or done after the usual, expected, or planned time.

Success

The achievement of set goals, objectives, or desired outcomes, often measured by performance, achievement, or fulfillment.