Examlex
Which statement is true about the following reaction?
Comparative Advantage
The ability of a country, individual, company, or region to produce a good or service at a lower opportunity cost than competitors.
Petroleum
A naturally occurring, flammable liquid consisting of a complex mixture of hydrocarbons and other organic compounds, used primarily as fuel and in the production of various chemicals.
Crude Oil
A naturally occurring, unrefined petroleum product composed of hydrocarbon deposits and other organic materials, used as a fuel and raw material in chemical industries.
Opportunity Cost
Surrendering the chance for gains from other choices by opting for one path.
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