The Ability of a Country to Produce a Specific Good

question 56

Multiple Choice

The ability of a country to produce a specific good at a lower opportunity cost than its trading partners is known as

• A)The inequality trap.
• B)The human advantage.
• C)Comparative advantage.
• D)Absolute advantage.

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Definitions:

Independent Practice Association

An organization of independent physicians, or other healthcare providers, that contracts with health plans or directly with patients to provide care within negotiated price and service constraints.

HMO

Health Maintenance Organization, a type of health insurance plan that requires members to receive healthcare services from a network of designated providers.

Providers

Entities or individuals that supply services or goods.

Medicare

A federal health insurance program in the United States for people aged 65 and older, and for some younger people with disabilities.