Post Utme Crawford University 2017 Commerce Question 21

Practice objective / multiple choice question 21 from the 2017 Post Utme Crawford University Commerce examination.

Post Utme Crawford University 2017 Commerce Objective / Multiple Choice
Question 21 POST_UTME_CRAWFORD_UNIVERSITY • 2017 • 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

A. By reducing production costs and increasing efficiency
B. By increasing the demand for the good and reducing supply
Correct Answer C. By exploiting its comparative advantage and trading with other countries
D. By imposing tariffs and quotas on imports
Correct Answer
C
Correct Option:
By exploiting its comparative advantage and trading with other countries

About This Question

This is Post Utme Crawford University 2017 Commerce Question 21. It is one of the objective questions from the 2017 Post Utme Crawford University Commerce examination.

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