Comparative Advantage Means the Ability to Produce a Good or Service

question 103

Multiple Choice

Comparative advantage means the ability to produce a good or service

• A)at a lower selling price than any other producer.
• B)at a lower opportunity cost than any other producer.
• C)of a higher quality than any other producer.
• D)at a higher profit level than any other producer.

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Definitions:

Pitch Diameters

The effective diameter of a screw thread, halfway between the crests and roots, used in measuring and specifying thread sizes.

Diametral Pitches

Diametral pitches refer to the number of teeth per inch of the diameter of a gear, which determines the size of the teeth and the pitch of the gear.

Ratchet Wheel

A wheel or gear with teeth cut in a way that allows motion in one direction only, often used in mechanisms requiring incremental movement.

Pawl

A mechanical component that engages with another component to prevent motion in one direction, or to drive a mechanism intermittently.