If You Have a Comparative Advantage in a Particular Task

question 13

Multiple Choice

If you have a comparative advantage in a particular task, then:

• A)you are better at it than other people.
• B)you give up more to accomplish that task than do others.
• C)you give up less to accomplish that task than do others.
• D)you have specialized in that task, while others have not.

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Definitions:

Oral Contracts

Agreements made through spoken words rather than written documents, which can be legally binding but are often harder to prove.

Voicemail

An electronic system that records and stores voice messages left by callers, when the recipient is unavailable to answer the phone.

Wholesaler

An individual or company that buys goods in large quantities from manufacturers or importers and sells them to retailers or other businesses.

Enforceable Contract

A legal agreement that is valid under the law and can be upheld in court.