What is comparative advantage?

A.

Comparative advantage is when a country can produce a good at a lower cost in terms of other goods or when a country has a lower opportunity cost of production.

B.

Comparative advantage is when a country can produce a good at a higher cost in terms of other goods

C.

Comparative advantage is when a country can produce a good at a lower cost than others countries.

D.

Comparative advantage is when a country has a higher opportunity cost of production.

Question

Katelyn Farrell

Mathematics

17 October, 15:08

What is comparative advantage?

A.

Comparative advantage is when a country can produce a good at a lower cost in terms of other goods or when a country has a lower opportunity cost of production.

B.

Comparative advantage is when a country can produce a good at a higher cost in terms of other goods

C.

Comparative advantage is when a country can produce a good at a lower cost than others countries.

D.

Comparative advantage is when a country has a higher opportunity cost of production.

+3

Answers (1)

Know the Answer?

Evie Mooney · Answer 1

the ability of an individual or group to carry out a particular economic activity (such as making a specific product) more efficiently than another activity.