The Concept of Comparative Advantage in International Trade Is Based

question 9

Multiple Choice

The concept of comparative advantage in international trade is based on ________ as opposed to absolute costs.

• A)relative prices
• B)absolute prices
• C)opportunity costs
• D)average cost
• E)total cost

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Definitions:

Line Study

An investigation or experiment that focuses on the perception, judgment, or memory of lines, often in the context of psychological research.

Conforms

Adjusts one's behavior or thinking to match with a group standard or expectation.

Behaviour

Actions, reactions, or conduct of an organism, usually in response to external or internal stimuli.

Conformity

The act of matching attitudes, beliefs, and behaviors to what is considered normal or acceptable in a specific social context.