A Person Has a Comparative Advantage in an Activity Whenever

question 160

Multiple Choice

A person has a comparative advantage in an activity whenever he or she

• A) has an absolute advantage in the activity.
• B) can perform the activity at a lower opportunity cost than can anyone else.
• C) can do the activity in less time than anyone else.
• D) can do everything better than anyone else.

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Definitions:

At Least

A term used to signify a minimum amount or the smallest quantity that is acceptable or required.

Queen

A female monarch who reigns over a kingdom or territory, often as part of a constitutional monarchy where her powers are ceremonial or limited by law.

Probability

A measure of the likelihood of a specific outcome or event occurring, expressed as a number between 0 and 1.

Batteries

Instruments made up of at least one electrochemical cell that reserves and delivers electrical power.