A Country Has a Comparative Advantage in a Product If

question 164

Short Answer

A country has a comparative advantage in a product if the world price is _____ than that country's domestic price without trade.

---

Definitions:

Oceanic Divergent Boundary

A tectonic plate boundary where two oceanic plates move apart, leading to the formation of new oceanic crust through volcanic activity.

Ocean-continent Convergent

A type of tectonic plate boundary where oceanic and continental plates converge, typically resulting in subduction of the oceanic plate and formation of mountain ranges and volcanic activity on the continental plate.

Transform Boundary

A type of fault where tectonic plates slide past one another horizontally, leading to earthquakes but not substantial vertical movement.

Mid-ocean Ridge

An underwater mountain range, formed by plate tectonics, that encircles the globe, marked by volcanic activity and seafloor spreading.