Question

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.

Answer 1

Answer:

Comparative advantage  

Explanation:

Comparative advantage is the point at which a nation creates a decent or administration for a lower opportunity cost than different nations  

For instance : oil-creating countries have a relative favorable position in synthetic substances. Their privately delivered oil gives a modest wellspring of material for the synthetic substances when contrasted with nations without it.  

Similar preferred position, is a financial hypothesis, first created by nineteenth century British business analyst David Ricardo, that ascribed the reason and advantages of worldwide exchange to the distinctions in the relative open door (costs as far as different merchandise surrendered) of delivering similar wares among nations.