Comparative Advantage Exists When a Person or a Country Can

question 67

Multiple Choice

Comparative advantage exists when a person or a country can produce a good or service at a lower _____ than others.

• A)fixed cost
• B)variable cost
• C)opportunity cost
• D)total cost
• E)marginal cost

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Definitions:

Financial Aid

Monetary support given to individuals, often students, to help cover the cost of educational expenses, which can include grants, scholarships, loans, and work-study programs.

Cooperative Education

An educational program that combines classroom learning with practical work experience in a related field.

Work-Study Program

A program that provides part-time employment to students to help finance their education.

Financial Aid Office

A department within a college or university that provides information and support regarding financial aid, scholarships, grants, and loans to students.