Asked by
Sarah Lisson
on Dec 11, 2024
Verified
The law of comparative advantage applies to exchange between
A) individuals.
B) regions.
C) nations.
D) all of the above.
Comparative Advantage
The capability of a person or group to execute a specific economic action more effectively than another action.
Exchange
The act of giving one thing and receiving another, especially of the same type or value, commonly used in the context of goods, services, or financial instruments.
Individuals
Refers to single human beings, distinct from a group, class, or family.
- Master the fundamental idea of the law of comparative advantage.
- Learn to appreciate the value of trading interactions and the development of specialized skills.
Verified Answer
AM
Learning Objectives
- Master the fundamental idea of the law of comparative advantage.
- Learn to appreciate the value of trading interactions and the development of specialized skills.