If a Country Produces a Good at a Lower Opportunity

question 71

True/False

If a country produces a good at a lower opportunity cost than another country, it has an absolute advantage in the production of that good.

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Definitions:

Trade Discount

A reduction in the listed price of a product or service, offered by sellers to buyers in the same trade or industry.

Car Dealer

A business that specializes in selling new or used vehicles to consumers, often offering financing and trade-in options.

Manufacturer's List Price

The recommended selling price of a product set by the manufacturer, before any discounts or allowances are applied.

Commodity Stock

A stock that represents companies involved in the extraction, production, or sale of raw materials, such as metals, energy, and agricultural products.