Comparative Advantage Is Based on Opportunity Costs

question 153

True/False

Comparative advantage is based on opportunity costs.

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Definitions:

Expansion

The process of increasing the size, scale, or scope of a business or organization's operations, typically by entering new markets or increasing product lines.

Corporate Strategy

A high-level plan for a company to achieve specific business objectives and competitive advantage.

Growth Strategy

An approach by which an organization aims to expand its size, revenues, market presence, or competitive position.

Products and Services

The goods manufactured and the activities offered by businesses to satisfy consumer needs and wants.