A Person Has a Comparative Advantage in Producing a Good

question 23

Multiple Choice

A person has a comparative advantage in producing a good if that person:

• A) Has higher productivity in producing it than anyone else has
• B) Can produce it at a lower opportunity cost than anyone else can
• C) Has less desire to consume that good than anyone else has
• D) Has more human capital related to that good than anyone else has

---

Definitions:

Historical Significance

The importance ascribed to an event, object, or person in history, based on their impact on subsequent events or developments.

Fordism

A system of mass production that combines manufacturing with technological innovations to produce large quantities of standardized products, famously pioneered by Henry Ford.

Historical Significance

The importance assigned to an event, person, or place based on its impact on history, its representative value, or its influence on present and future conditions.

John Dewey's Pragmatism

A philosophical doctrine that emphasizes the practical application of ideas by acting on them to actually test them in human experiences.