Which of the Following Best Describes Comparative Advantage

question 271

Multiple Choice

Which of the following best describes comparative advantage?

• A) being able to produce more output than any other country
• B) using the fewest number of resources to produce a given amount of output
• C) having the largest number of resources compared to other countries
• D) forgoing the fewest units of one product to produce a unit of another product
• E) It is the same as absolute advantage.

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Definitions:

Cultural Group

A community of people who share common language, customs, values, traditions, beliefs, arts, and other cultural aspects.

Similarity

The degree to which two or more objects, ideas, or individuals share common characteristics or attributes.

Uniqueness

The quality of being the only one of its kind; distinctiveness or rarity among similar entities.

Deindividuation

A psychological state where an individual loses self-awareness and a sense of individuality, often resulting in disinhibited and norm-violating behavior, typically in group contexts.