If a Nation Can Produce Greater Quantities of a Good

question 29

Multiple Choice

If a nation can produce greater quantities of a good than another nation, it has a(n)

• A)comparative advantage.
• B)absolute advantage.
• C)declarative advantage.
• D)entire advantage.

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Definitions:

Entrepreneurs

Individuals who initiate, manage, and accept the risks of starting and running a new business venture.

Start-up Businesses

Companies in their early stages of operation, focusing on a unique product or service aiming to meet a market need or solve a problem.

Top Executive

A high-level position in a company responsible for making major corporate decisions, overseeing the overall operations, and managing organizational resources.

Technological Breakthroughs

Major advances in technology that can dramatically change an industry or economy.