The Table Given Below Represents Butter and Ham Production by Two

question 53

Multiple Choice

The table given below represents butter and ham production by two countries Norway and Sweden.Table 2.5

-Economists refer to the ability of one person or nation to do something with a lower opportunity cost than another as _____.

• A)voluntary trade
• B)specialization
• C)gains from trade
• D)absolute advantage
• E)comparative advantage

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