If a Country Has a Comparative Advantage in Oil, Then

question 93

Multiple Choice

If a country has a comparative advantage in oil, then this means that the opportunity cost of producing oil is:

• A) high.
• B) low.
• C) zero.
• D) infinite.
• E) equal to all other goods.

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Definitions:

Competition

The rivalry between businesses or individuals for resources, market share, or superiority in a particular field.

Power Avoidance

A cultural value indicating a society's tolerance for unequal distribution of power, and its members' behavioral response to minimize or avoid such inequalities.

Ambiguity

Ambiguity is the quality of being open to more than one interpretation, lacking clarity, and leading to uncertainty or confusion.

Unpredictability

The extent to which events or behaviors cannot be anticipated due to a lack of consistent patterns or information.