The Principle of Comparative Advantage Says That

question 18

Multiple Choice

The principle of comparative advantage says that

• A) every individual should specialize in producing that good for which the absolute cost is the smallest
• B) the output of society as a whole will be the greatest if every individual specializes in producing that commodity for which his opportunity cost is the smallest
• C) monopoly power is gained by specializing in a large market and reducing costs
• D) monopoly power is gained by specializing in a small market and producing a differentiated product
• E) your financial investments should be "compared" in a common fashion to determine your maximum advantage

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Definitions:

Gibberellin

A plant hormone that promotes growth and influences various developmental processes, including stem elongation, germination, and flowering.

Senescence

The process of aging where cells lose the ability to divide, grow, and function, leading to the eventual death of the cell.

Cytokinin

A class of plant hormones that promote cell division and growth, and are involved in aging, nutrient processing, and other physiological processes.

Amyloplasts

A type of plastid found in some plant cells, responsible for the synthesis and storage of starch granules through the process of photosynthesis.