IT2: Absolute advantage, comparative advantage, benefits of trade
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Last updated almost 6 years ago
5 questions
1
A country that can produce more than another country using the same amount of resources is called
A country that can produce more than another country using the same amount of resources is called
1
Which country above has the absolute advantage in cars and/or bikes?
Which country above has the absolute advantage in cars and/or bikes?
1
Which country above has the comparative advantage in cars?
Which country above has the comparative advantage in cars?
1
A country that can produce output at a lower opportunity cost relative to another country is called
A country that can produce output at a lower opportunity cost relative to another country is called
1
Which of the following is NOT a benefit of trade?
Which of the following is NOT a benefit of trade?