The Ability to Produce a Good or Service at a Lower

question 217

Multiple Choice

The ability to produce a good or service at a lower opportunity cost than other producers is

• A) absolute advantage.
• B) the quota system.
• C) intellectual property.
• D) comparative advantage.

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Definitions:

NFC

Near Field Communication, a set of communication protocols that enable two electronic devices, one of which is usually a portable device such as a smartphone, to establish communication by bringing them within 4 cm of each other.

VPN

A Virtual Private Network is a technology that establishes a secure and encrypted connection across a less secure network, like the internet.

Open Source

Software with source code that can be inspected, modified, and enhanced by anyone, promoting collaborative software development.