The Principle of Comparative Advantage Asserts That

question 12

Multiple Choice

The principle of comparative advantage asserts that

• A)not all countries can benefit from trade with other countries.
• B)the world price of a good will prevail in all countries,regardless of whether those countries allow international trade in that good.
• C)countries can become better off by exporting goods,but they cannot become better off by importing goods.
• D)countries can become better off by specializing in what they do best.

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Definitions:

Company's Business Objectives

The specific and measurable goals a company aims to achieve over a certain period of time to ensure growth and success.

Traditional Approach

A conventional method or strategy that has been widely used over time, often contrasted with more innovative or modern methods.

Cost Control

The practice of managing and reducing business expenses through efficient and effective resource allocation.

Modern Cost Management

An approach to cost management that incorporates advanced techniques and technologies to analyze and optimize costs across various business activities.