Multiple Choice
The ability of one nation to produce a commodity using fewer resources than another nation is:
A) absolute advantage
B) comparative advantage
C) mercantilism
D) specialization
Correct Answer:

Verified
Correct Answer:
Verified
Related Questions
Q10: According to the mercantilists:<br>A)Only one nation can
Q11: According to the following table,the UK
Q12: The concept of absolute advantage provides that
Q13: _ is the utilization of all of
Q14: Essays and pamphlets on international trade,maintaining that
Q16: The analysis of economic forces that justify
Q17: According to Adam Smith,in order for two
Q18: In the presence of trade,a nation's consumption
Q19: The production possibilities frontier shows the various
Q20: The increase in consumption in each nation