Which Statement Is True

question 171

Multiple Choice

Which statement is true?

• A)Comparative advantage means that total world output will be greatest when each good is produced by the nation that has the highest domestic opportunity cost.
• B)Comparative advantage means that total world output will decline when each good is produced by the nation with the lowest domestic opportunity cost.
• C)Specialization is complete among nations when opportunity costs rise as any given nation produces more of a particular product.
• D)Specialization is less than complete among nations when opportunity costs rise as any given nation produces more of a particular product.

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Definitions:

Procure-to-Pay (P2P)

The process that businesses use to requisition, purchase, receive, and pay for goods and services.

Order Cycle Times

The duration between when a customer places an order and when they receive the product, often a critical metric in supply chain management.

Administrative Costs

Expenses related to the general operation of a business, including salaries of office staff, rent, and utilities.

Unambiguous Description

A clear, precise, and specific explanation or depiction that avoids confusion or misinterpretation.