Post Utme Bowen University 2018 Commerce Question 6

Practice objective / multiple choice question 6 from the 2018 Post Utme Bowen University Commerce examination.

Post Utme Bowen University 2018 Commerce Objective / Multiple Choice
Question 6 POST_UTME_BOWEN_UNIVERSITY • 2018 • COMMERCE • objective

The concept of specialization in production is closely related to the idea of comparative advantage. Explain how a country can benefit from specializing in the production of a particular good, even if it is not the most efficient producer of that good.

Answer Options

Correct Answer A. By exporting the good to other countries and importing other goods in return.
B. By investing in research and development to improve its production efficiency.
C. By imposing trade barriers to protect its domestic industry.
D. By diversifying its production to reduce dependence on a single industry.
Correct Answer
A
Correct Option:
By exporting the good to other countries and importing other goods in return.

About This Question

This is Post Utme Bowen University 2018 Commerce Question 6. It is one of the objective questions from the 2018 Post Utme Bowen University Commerce examination.

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