Soru
Question 7(Multiple Choice Worth 4 points) (03.07 MC) A country can produce beach balls at a lower opportunity cost than any other country. It has __ in producing beach balls. an absolute advantage a comparative advantage both absolute and comparative advantage neither absolute nor comparative advantage
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Cevap
B. a comparative advantage
Daha Fazla
## Step 1The problem is about understanding the concepts of absolute and comparative advantage in economics. ## Step 2Absolute advantage refers to the ability of a country to produce a good more efficiently than any other country. This means that the country can produce the good using fewer resources than any other country.## Step 3On the other hand, comparative advantage refers to the ability of a country to produce a good at a lower opportunity cost than any other country. This means that the country can produce the good at a lower cost than any other country, even if it is not the most efficient producer.## Step 4In this problem, the country can produce beach balls at a lower opportunity cost than any other country. This indicates that the country has a comparative advantage in producing beach balls.