Which of the Following Is Not Correct

question 131

Multiple Choice

Which of the following is not correct?

• A)The producer who requires a smaller quantity of inputs to produce a good is said to have an absolute advantage in producing that good.
• B)The producer who gives up less of other goods to produce Good X has the smaller opportunity cost of producing Good X.
• C)The producer who has the smaller opportunity cost of producing a good is said to have a comparative advantage in producing that good.
• D)The gains from specialization and trade are based not on comparative advantage but on absolute advantage.

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Definitions:

Social Commerce

The integration of online social networks with e-commerce transactions, allowing users to buy and sell goods or services within a social media platform.

Collaborative Purchasing

A buying process where multiple parties come together to leverage collective bargaining power for better terms or prices.

Social Shopping

The combination of e-commerce and social networking sites, where users can shop for items while interacting and seeking opinions from others.

Blogs

Online journals or informational websites displaying information in reverse chronological order, with the latest posts appearing first.