Which of the Following Countries Has the Greatest Percentage of People

question 53

Multiple Choice

Which of the following countries has the greatest percentage of people living in extreme poverty?

• A)India.
• B)China.
• C)Congo.
• D)Bolivia.

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Definitions:

Absolute Advantage

The ability of a party (country, company, individual) to produce a greater quantity of a good, product, or service than competitors using the same amount of resources.

Comparative Advantage

The ability of an individual, firm, or country to produce a good or service at a lower opportunity cost than competitors, leading to more efficient trade possibilities.

Specialize

Refers to the process of focusing on a specific area of knowledge or skill within a broader field.

Comparative Advantage

The ability of a party to produce a particular good or service at a lower marginal and opportunity cost over another.