The Principle of Comparative Advantage Asserts That

question 12

Multiple Choice

The principle of comparative advantage asserts that

• A)not all countries can benefit from trade with other countries.
• B)the world price of a good will prevail in all countries,regardless of whether those countries allow international trade in that good.
• C)countries can become better off by exporting goods,but they cannot become better off by importing goods.
• D)countries can become better off by specializing in what they do best.

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Definitions:

Output Standards

Measure performance results in terms of quantity, quality, cost or time.

Performance Results

The outcomes or outputs stemming from the activities or tasks performed by an individual or organization, often measured against set goals or standards.

Accomplished Work

The completed tasks or projects that have been successfully carried out.

Controlling Function

One of the core functions of management, involving monitoring performance and implementing necessary actions to achieve organizational goals.