Comparative advantage is directly related to which of the following concepts?
A)Opportunity cost
B)Competition
C)Fairness
D)Efficiency
E)Productivity

Question

Quizplus · Accepted Answer

Comparative advantage is based on the concept of opportunity cost, which refers to the value of the next best alternative forgone when making a decision. A country has a comparative advantage in producing a certain good if it can produce it at a lower opportunity cost than another country.

Comparative Advantage Is Directly Related to Which of the Following