You and two of your friends decide to open an e-business selling a product online. Instead of all three partners creating the pr

Question

3 years ago

8

You and two of your friends decide to open an e-business selling a product online. Instead of all three partners creating the pr

oduct, you each specialize in one aspect of the business. This is MOST reflects the concept of
A) exports.
B) imports.
C) absolute advantage.
D) comparative advantage.

History

2 answers:

Elza [17] · Answer 1 · 2021-12-26T01:21:47+03:00

Elza [17]3 years ago

6 0

Answer:

D. Comparative Advantage

Explanation:

barxatty [35] · Answer 2 · 2021-12-25T23:43:20+03:00

Comparative advantage.

The production of a good or performance of a skill for which a person is best suited is what is termed comparative advantage. Or, on a national level, the production of goods for which a nation's resources are best suited is comparative advantage.

Absolute advantage refers to one person (or one nation) having a consistent advantage over another in making a particular product efficiently and best.