The First Example of Comparative Advantage Appeared in a Book

question 17

Multiple Choice

The first example of comparative advantage appeared in a book that was published in 1817.This example showed that mutually beneficial trade between two countries (England and Portugal) was possible.The example assumed that two goods (wine and cloth) could be produced by both countries.Which of the following describes the conclusion of this example?

• A)Portugal had a comparative advantage in wine and England had a comparative advantage in cloth.
• B)Portugal had a comparative advantage in both wine and cloth,but its advantage in cloth was greater.
• C)England had a comparative advantage in both wine and cloth,but its advantage in cloth was greater.
• D)England had an absolute advantage in both wine and cloth,but a comparative advantage in wine.

Perform arithmetic operations on fractions and express the result in simplest form.

Understand the concept of working with families across the mezzo and macro practice continuum.

Identify the challenges and identity issues faced by blended families.

Recognize the communication problems within families and their impact.

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Definitions:

Observation

The action or process of closely monitoring or watching something or someone.

Proxemics

The cross-cultural study of people's perception and use of social space.

Metaphors

Figures of speech that describe a subject by asserting that it is, on some point of comparison, the same as another otherwise unrelated object.

Symbols

Objects, characters, figures, or colors used to represent ideas or concepts; they play a crucial role in communication and culture.