If Nation a Has an Absolute Advantage Over Nation B

question 103

Multiple Choice

If nation A has an absolute advantage over nation B in the production of a product, this implies that:

• A) it requires fewer resources in A to produce the good than in B.
• B) the cost of producing the good in terms of some other good's production that must be sacrificed is lower in A than in B.
• C) nation B could not benefit by engaging in trade with A.
• D) nation A could not benefit by engaging in trade with B.

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Definitions:

On-The-Job Training

A form of training occurring while an employee is performing their job tasks, involving hands-on experience to learn various skills necessary for their role.

Projecting Sales

The process of estimating future sales volumes based on historical data, market analysis, and sales trends.

Employee Training

The organized activity aimed at imparting information and/or instructions to improve the recipient's performance or to help him or her attain a required level of knowledge or skill.

Compensation Plans

Structured pay strategies designed by organizations to reward employees based on their job roles, performance, and achievements.