Comparative Advantage Is the Ability to Produce

question 122

Multiple Choice

Comparative advantage is the ability to produce:

• A) more of a good than others with a given amount of resources.
• B) relatively more than any other good with a given amount of resources.
• C) a good or service at a lower opportunity cost than others.
• D) more of a good at a lower cost.

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Definitions:

Neolithic Period

A phase in human history marked by the development of agriculture and permanent settlements, leading to significant cultural and technological advancements.

Dwellings Materials

The various substances or goods used in the construction and maintenance of homes and buildings.

Iron

A chemical element with the symbol Fe, known for its strength and used extensively in construction and manufacturing.

Neolithic Social Structure

The organization of societies during the Neolithic period, characterized by the beginnings of agriculture, settled communities, and more complex social hierarchies.