What Economic Concept Is the Most Relevant When Defining Comparative

question 43

Multiple Choice

What economic concept is the most relevant when defining comparative advantage?

• A)opportunity cost
• B)sunk cost
• C)scarcity
• D)efficiency

---

Definitions:

Sir Francis Galton

A British polymath known for his pioneering studies of human intelligence and for introducing the use of questionnaires and surveys for collecting data.

Spatial Abilities

The capacity to understand, reason, and remember the spatial relations among objects or space.

Stanford-Binet Scales

A standardized test that assesses intelligence and cognitive abilities in children and adults, ranging from age two to adulthood.

Minnesota Multiphasic Personality Inventory (MMPI)

The most widely used objective test of personality. The adjective “multiphasic” means that it assesses many aspects of personality. The test contains 567 questions grouped to form 10 content scales plus additional scales to detect sources of invalidity such as carelessness, defensiveness, or evasiveness. The revised and updated version, called the MMPI-2, focuses primarily on the main clinical disorders.