A Country Possesses a Comparative Advantage in the Production of a Product

question 21

Multiple Choice

A country possesses a comparative advantage in the production of a product if

• A)the opportunity cost, in terms of the amount of other products that it gives up to produce this product, is lower than it is for its trading partners.
• B)it possesses an absolute advantage in the production of this good compared to its trading partners.
• C)it is able to produce less of this good per worker than its trading partners.
• D)it can produce more of this good per hour than its trading partners.

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Definitions:

Performance Review

A formal assessment in which the work performance of an employee is documented and evaluated.

Supportive

Providing assistance, encouragement, or emotional help to others in a way that promotes a positive environment or outcome.

Corrective

Designed to correct or rectify an error, fault, or undesirable outcome, often through specific interventions or adjustments.

Feedback

Information provided about reactions to a product, a person's performance of a task, etc., used as a basis for improvement.