A Person Has a Comparative Advantage in an Activity Whenever

question 204

Multiple Choice

A person has a comparative advantage in an activity whenever she

• A) has an absolute advantage in the activity.
• B) can perform the activity at a lower opportunity cost than another person can.
• C) can do the activity in less time than anyone else.
• D) can do everything better than anyone else.

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Definitions:

Conditions

The circumstances or factors affecting the way in which people live or work, especially with regard to their safety or well-being.

Bounded Ethicality

The concept that cognitive biases and organizational contexts limit individuals’ ability to make ethically ideal decisions.

Ethical Blind Spots

The tendency to overlook or underestimate the ethical dimensions of one’s actions or decisions, often due to cognitive biases.

Ethical

Pertaining to or dealing with morals or the principles of morality; adhering to accepted standards of conduct.