Both Absolute and Comparative Advantage Theories Assume That ________ Is

question 26

Multiple Choice

Both absolute and comparative advantage theories assume that ________ is the only resource used in the production process.

• A) land
• B) labor
• C) capital
• D) equipment

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Definitions:

Affinity Impulse

The spontaneous preference or attraction toward a person, object, or activity due to perceived similarities or emotional connections.

Motivated

Having a strong desire or willingness to do something, often driven by internal or external factors.

Personal Utility

The subjective value or satisfaction a person derives from using a product or service, based on personal preferences and needs.

Validation

The act of confirming or endorsing something as accurate, valuable, or worthy of recognition.