Business, 28.05.2020 19:04, mrblake1594

Having 1 doesn't mean you'll produce everything while other nations don't. Nations determine what they have the 2 in, and produce that.

Comparative advantage is when a nation, business, or person can produce a good or service at a lower 3 than anyone else.

A. 1-opportunity cost, 2-absolute advantage, 3-comparative advantage

B. 1-absolute advantage, 2-comparative advantage, 3-opportunity cost

C. 1-comparative advantage, 2-absolute advantage, 3-opportunity cost

D. 1-comparative advantage, 2-opportunity cost, 3-absolute advantage

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Having 1 doesn't mean you'll produce everything while other nations don't. Nations determine what th...