What Does It Mean If a Country Has a Comparative

question 3

Multiple Choice

What does it mean if a country has a comparative advantage in the production of a product?

• A) It has a lower opportunity cost than rivals.
• B) It can produce more than rivals.
• C) It is charging more than rivals.
• D) It is subsidized by the government.

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Definitions:

Modern-Day Equivalent

An updated or contemporary version that serves the same purpose or fulfills the same role as something from the past.

Low-Status Ethnic Group

A low-status ethnic group is regarded as having less power, privilege, and social standing compared to other ethnic groups within a society.

Practising Lawyer

A legal professional who holds a valid license to practice law and actively offers legal services to clients, appearing in court or providing legal advice.

Extended Family Unit

A family group beyond the nuclear family, including relatives such as grandparents, aunts, uncles, and cousins, often living nearby or in one household.