Operation on the Basis of Comparative Advantages Implies Which of the Following

question 11

Multiple Choice

Operation on the basis of comparative advantages implies which of the following?

• A) Countries allocate their resources across all sectors regardless of opportunity costs.
• B) Countries will specialize even if they can produce everything.
• C) Countries not efficient in any production should not trade.
• D) none of the above.

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Definitions:

Journalize

The process of recording financial transactions in a company's accounting records or journals.

Transactions

Acts of buying or selling goods, services, or financial instruments.

Invests

The act of allocating resources, usually money, in the expectation of generating an income or profit.

Note Payable

A written promise to pay a specified amount of money, along with interest, by a certain date.