Comparative Advantage Is Defined as

question 261

Multiple Choice

Comparative advantage is defined as

• A) the ability to produce more output of one good relative to another good than another country can.
• B) the ability to produce more output from given inputs of resources than others can.
• C) the ability to use more input of resources than others can.
• D) having a lower average fixed cost in the production of a good than does someone else.

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Definitions:

Situational Contingencies

External factors or circumstances that influence the outcome of a decision or action and must be considered in planning and execution.

Organizational Design

The process of structuring an organization’s roles, responsibilities, and systems to effectively manage and utilize resources to achieve business objectives.

Unique Problems

Distinctive or specific issues that do not commonly occur and require tailored solutions.

Organizational Design

The method of shaping an organization's structure and roles to improve efficiency and achieve objectives.