What Does It Mean If the Opportunity Costs Differ Between

question 17

Multiple Choice

What does it mean if the opportunity costs differ between two countries?

• A)Then comparative costs must be the same.
• B)There can be no gains from trade.
• C)It is possible for both countries to gain from specialization and trade.
• D)Then absolute costs must be the same.

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Definitions:

Consumer Product Safety Commission

A U.S. federal agency responsible for the regulation of the sale and manufacture of consumer products to ensure their safety.

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The obligation of organizations to act in ways that benefit society at large, beyond their own interests or profitability.

Ecological Environment

The complex of biological, chemical, and physical factors that act upon an organism or an ecological community and ultimately determine its form and survival.