Comparative Advantage Is

question 196

Multiple Choice

Comparative advantage is

• A)the ability of an individual to specialize and produce a greater amount of some good than can another individual
• B)the number of units of one good given up in order to acquire something
• C)the ability of an individual to produce a good at a lower opportunity cost than some other individual can
• D)an expression for the amount of labor a particular individual needs to produce a fixed amount of capital goods
• E)a reference to an individual having the greatest opportunity cost of producing the good and produces it with the fewest resources

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Definitions:

Goals

Targets or objectives that an individual, team, or organization aims to achieve within a specified timeframe.

Goal-Setting Theory

A theory positing that establishing clear, challenging, and attainable goals can significantly enhance motivation and performance.

Employee Participation

The involvement of employees in the decision-making processes of an organization, aiming to improve commitment and performance.

Sense of Ownership

The feeling or mindset that individuals have when they believe they have control over something and are responsible for its outcome or success, often enhancing motivation and commitment.