A comparative advantage is the ability of a country to produce a particular good or service at a lower ____________ than another
country. a. opportunity cost b. production cost c. absolute advantage d. manufacturing advantage Please select the best answers from the choices provided. A B C D
A comparative advantage is the ability of a country to produce a particular good or service at a lower opportunity cost than another country.
Answer: Option A
<u>Explanation:</u>
The ability of producing a product or a service at a reduced cost of production than that of the competitors is referred to be an absolute advantage.
The ability of producing a product or a service at low opportunity cost than that of the competitors is referred to be Comparative advantage.
When a product is produced in an efficient manner than a competitor which is at a reduced it is an absolute advantage.
Comparative advantage means that, instead of producing some other goods at some costs, a particular good can be produced at a lower cost. This is also termed as an opportunity cost.
The arctic fox is a species of fox that lives in the most northern regions of the world. They survive in the tundra and thrive in cold climates through biological adaptations and scavenger-like behavior that keeps them alive and well.
The therapist is using a practice known as "free association." This is where a client is asked to share thoughts freely, regardless of the coherence or appropriateness of these thoughts. This is a form of psychoanalysis that also falls into Psychodynamic Theory.