Social Studies
Social Studies, 07.01.2022 22:00, mhwalters

Comparative and Absolute Advantage Quick Check What distinguishes comparative advantage from absolute advantage in production? (1 point)

1) A country has comparative advantage in production when its opportunity costs of producing a good are higher
than another country's

2) A country has comparative advantage in production when it requires more total inputs than does another country
to produce the same output.

3) A country has comparative advantage in production when it requires fewer total inputs than does another country
to produce the same output

4) A country has comparative advantage in production when its opportunity costs of producing a good are lower
than another country's

answer
Answers: 3

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