Comparative Advantage Is

question 186

Multiple Choice

Comparative advantage is

• A) the ability to produce more output from given inputs than another producer can.
• B) the ability to produce a good at a lower opportunity cost than other producers.
• C) the ability to produce more output of all goods than anyone else can.
• D) the ability to produce all goods at lower costs than anyone else can.

---

Definitions:

Variance

A statistical measure that represents the dispersion or spread of a set of data points.

Probability

A measure of the likelihood of a certain event or outcome, expressed as a number between 0 and 1.

PERT Network

A project management tool used to schedule, organize, and coordinate tasks within a project.

Expected Time

In project management, the average time estimated for the completion of a task or project, considering the most likely, optimistic, and pessimistic scenarios.