Which of the Following Statements Is True

question 27

Multiple Choice

Which of the following statements is true?

• A)Individuals who have never been the best at doing anything cannot have a comparative advantage in producing any product.
• B)Individuals who have never been the best at doing anything can still have a comparative advantage in producing some product.
• C)Individuals who have never been the best at doing anything perform all tasks at a higher opportunity cost than others.
• D)Individuals who have never been the best at doing anything must have an absolute advantage in at least ones task.

---

Definitions:

Steak And Potatoes

Often used metaphorically to denote basic, but solid and satisfying elements or aspects of something.

Complements

Goods or services that are used together, where the increase in demand for one leads to an increase in demand for the other.

Demand Curve

A graphical representation of the relationship between the price of a good and the quantity demanded by consumers, holding all other factors constant.

New Textbooks

The latest editions of educational books that incorporate updated information, methodologies, and research findings.