Question

True or False? Higher opportunity costs equal a greater comparative advantage.

Answer 1

Determine if higher opportunity costs equal a greater comparative advantage

• Opportunity cost refers to the alternative forgone. It can also be called TRUE COST or REAL COST.

• The cost and benefits of wants should be weighed against each other before making a choice.

• Comparative advantage refers to the ability of a country to produce a particular products at a lower opportunity cost compared to other countries.

• Comparative advantage gives the country the ability to sell goods and services at a lower price than other countries.

Therefore,

It is false that higher opportunity costs equal a greater comparative advantage.

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Answer 2

Answer:

False

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