Which of the Following Best Describes Comparative Advantage

question 271

Multiple Choice

Which of the following best describes comparative advantage?

• A) being able to produce more output than any other country
• B) using the fewest number of resources to produce a given amount of output
• C) having the largest number of resources compared to other countries
• D) forgoing the fewest units of one product to produce a unit of another product
• E) It is the same as absolute advantage.

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Definitions:

United States

A country primarily located in North America, consisting of 50 states, a federal district, five major self-governing territories, and various possessions.

Archduke Franz Ferdinand

Heir presumptive to the Austro-Hungarian throne whose assassination in 1914 triggered World War I.

World War I

A global conflict that took place primarily in Europe from 1914 to 1918, involving many of the world's great powers.

Global Escalation

The process by which conflicts or situations increase in intensity or scale on a worldwide level, often leading to widespread consequences.