All of the Following Are Sources of Comparative Advantage Except

question 186

Multiple Choice

All of the following are sources of comparative advantage except

• A)climate and natural resources.
• B)relative abundance of labor and capital.
• C)a strong foreign currency exchange rate.
• D)technology.

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Definitions:

Property Rights

Legal rights to possess, use, and dispose of assets.

Market Prices

The current price at which goods and services can be bought or sold in a market, determined by supply and demand.

Mutually Agreeable Prices

Prices that are accepted by both buyers and sellers in a transaction, usually determined through negotiation or market dynamics.

Competition

The economic rivalry among businesses or individuals within a market, aiming to achieve higher sales, profits, and market share.