Resources Are Used More Efficiently If People, Regions, and Countries

question 64

Multiple Choice

Resources are used more efficiently if people, regions, and countries specialize in goods for which they have a(n) :

• A)disincentive to trade with others.
• B)higher opportunity cost.
• C)absolute advantage in production.
• D)comparative advantage in production.
• E)comparative disadvantage in production.

---

Definitions:

Deductive Approach

A method of reasoning from the general to the specific, where conclusions follow logically from premises or known facts.

Company Policy

Formal guidelines and rules established by a business that dictate practices and behaviors of its employees.

Flaws In Logic

Errors in reasoning or argumentation leading to invalid conclusions or unsound beliefs.

Inductive Approach

A methodological approach in research and reasoning that moves from specific observations to broader generalizations and theories.