A Country Has a Comparative Advantage in Production of a Product

question 8

Multiple Choice

A country has a comparative advantage in production of a product if:

• A) It has a lower revenue.
• B) It has a higher revenue.
• C) It has a lower opportunity cost.
• D) It produces less.

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Definitions:

Emergent-Norm Theory

A theoretical framework suggesting that in crowd situations, new norms emerge which guide individual behavior, contradicting traditional norms.

Le Bon's Theory

A psychological theory proposed by Gustave Le Bon that explains how an individual in a crowd can lose self-control and become anonymous, leading to behavior that is emotional, irrational, and contagious.

Convergence Theory

A theory suggesting that crowd behavior is not irrational but an expression of the general beliefs and values of the individuals in the crowd.

Werther Syndrome

A phenomenon where high-profile suicides lead to an increase in suicide rates among the populace, influenced by media coverage and social suggestion.