Under What Circumstance Does a Country Specialize in Order to Use

question 238

Multiple Choice

Under what circumstance does a country specialize in order to use resources more efficiently?

• A) when there is comparative advantage in production
• B) when there is an absolute advantage in production
• C) when there is disincentive to trade with others
• D) when there is a higher opportunity cost to trade with others

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Definitions:

Decision Making

The process of choosing among alternative courses of action to achieve a desired outcome.

Right Time

The most appropriate or optimal moment to perform an action, make a decision, or implement a strategy.

Business Intelligence

The process of tapping information systems to extract and report data in organized ways that are helpful to decision-makers.

Information Systems

systems designed to collect, process, store, and distribute information, supporting decision-making, coordination, control, analysis, and visualization in an organization.