According to the Principal of Comparative Advantage

question 69

Multiple Choice

According to the principal of comparative advantage

• A) a country that produce goods at the lowest absolute cost will export those goods.
• B) a country will import goods it can produce at the lowest relative cost.
• C) a country will export goods it can produce at the lowest relative cost.
• D) a country will only import those goods that it cannot produce for itself.

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Definitions:

Necessaries

Necessaries refer to essential items that a person requires for basic sustenance and living, such as food, clothing, and shelter.

Contracts With Minors

Agreements made with individuals under the age of majority, which are generally voidable at the discretion of the minor, with certain exceptions.

Basic Medical Services

Basic medical services are essential healthcare services that include preventive, diagnostic, and therapeutic care to maintain or improve an individual's health.

Adjudicated Insane

refers to the legal determination that an individual is mentally incapable of managing their own affairs or standing trial due to mental illness.