A nation has a ___________ in the production of a good if it can produce that good more effectively or efficiently than it can produce other goods.
A)supreme advantage
B)primary efficiency
C)qualified advantage
D)comparative advantage

Question

Quizplus · Accepted Answer

The concept of comparative advantage states that a nation has an advantage in producing a good if it can produce that good at a lower opportunity cost (forgoing the production of other goods) than another nation. This means that a nation may not necessarily be the most efficient producer of a good, but if it can produce that good more efficiently than it can produce other goods, it should specialize in producing and exporting that good while importing other goods.

A Nation Has a ___________ in the Production of a Good