A Person Has a Comparative Advantage in an Activity If

question 11

Multiple Choice

A person has a comparative advantage in an activity if that person can

• A) produce more goods in a given amount of time than another person.
• B) produce fewer goods in a given amount of time than another person.
• C) perform the activity at a lower opportunity cost than anyone else.
• D) perform that activity at a higher opportunity cost than anyone else.

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Definitions:

Conclusion

The final part of something, typically a document, speech, or thought, summarizing or bringing it to an end.

Proposals

Documents or presentations that outline suggestions for a course of action, highlighting benefits and methods.

Needs

Fundamental requirements or necessities essential for an individual's well-being and to lead a healthy life.

Memorandum

A written message, especially in a business setting, used for communication within an organization.