Referring to the textbook's example of Babe Ruth, the famous player for the New York Yankees- - Ruth switched from being a pitcher to being an outfielder and batter because of the a. desire to be a mercantilist b. principle of comparative advantage c. principle of absolute advantage d. concept to economies of scale

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Social Studies

30 March, 03:17

Referring to the textbook's example of Babe Ruth, the famous player for the New York Yankees- - Ruth switched from being a pitcher to being an outfielder and batter because of the a. desire to be a mercantilist b. principle of comparative advantage c. principle of absolute advantage d. concept to economies of scale

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Jovan · Answer 1

b. principle of comparative advantage

Explanation:

In Economics Comparative advantage takes a view, in wich the perspective that a business has the resources to produce a variety of goods. The opportunity cost of a given option is equal to the forfeited benefits that could have been achieved by choosing an available alternative in comparison. When the profit from two products is identified, analysts would calculate the opportunity cost of choosing one option over the other.

The term was first introduced by David Ricardo in his book The Principles of Political Economy and Taxation, released in 1817.