Business, 28.05.2021 04:50 trevorpeterson20

Match the given descriptions to the terminology that could be used to define them. a. assumption in trade

b. absolute advantage

c. comparative advantage

d. specialization in trade

1. Country A produces a certain good in abundance
and sells it at a cheaper rate to other countries.

2. Country B produces a good with a lower opportunity
cost than another good.

3. Country A has superior resources to produce a good
more efficiently.

4. Countries A and B have a free flow of labor across their
borders.

Answers: 3

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Match the given descriptions to the terminology that could be used to define them. a. assumption in...

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