The Ability to Produce a Good at a Lower Opportunity

question 95

Multiple Choice

The ability to produce a good at a lower opportunity cost that others is known as

• A) comparative advantage.
• B) absolute advantage.
• C) specialization.
• D) marginal cost production.

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Definitions:

Lipids

A group of naturally occurring molecules that include fats, waxes, and certain vitamins, essential for energy storage and cell membrane structure.

Vitamin A

A fat-soluble vitamin important for normal vision, immune function, and reproduction.

Bones

The hard, dense organs that form the framework of the human body, essential for movement, protection of internal organs, and storage of minerals.

Teeth

Hard, calcified structures in the mouth used for biting and chewing food, also playing a role in speech.