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1 December, 09:07

True or false: A resource is said to have a comparative advantage if it is better suited to the production of one good than to the production of another good.

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  1. 1 December, 09:35
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    True

    Explanation:

    Different combinations of factors of production result in different comparative advantages because each type of resource is better suited for producing certain types of goods. E. g. countries with abundant land and labor resources will probably have a comparative advantage in the production of agricultural products. While countries with abundant capital and labor will have a comparative advantage in the production of industrial goods.
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