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MArishka [77]
1 year ago
15

a country that has a lower opportunity cost associated with producing a given product compared to another country would have a(n

) over that other country:
Business
1 answer:
cluponka [151]1 year ago
8 0

The opportunity cost of manufacturing televisions is lower in country a.Opportunity cost, which is the gain a person, business, or government will have to forfeit when they pick one choice over another, is essential to the notion of comparative advantage.

Comparative advantage in economics refers to the ability of a nation to generate goods or services at a lower opportunity cost than rivals.In his work "The Principles of Political Economy and Taxation," David Ricardo introduced the concept of comparative advantage (1817). If country a has a lower opportunity cost for producing televisions than country b, then country a has a comparative advantage over b in the production of television.Even if another country has an absolute advantage in producing all items, a country with a comparative advantage can create a good at a lower opportunity cost. Say, for illustration, that a nation could only create three different kinds of goods.X, Y, and Z are the products.

To know more about opportunities visit:

brainly.com/question/12520830

#SPJ4

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