Post Utme Greenfield University 2022 Commerce Question 6

Practice objective / multiple choice question 6 from the 2022 Post Utme Greenfield University Commerce examination.

Post Utme Greenfield University 2022 Commerce Objective / Multiple Choice
Question 6 POST_UTME_GREENFIELD_UNIVERSITY • 2022 • COMMERCE • objective

The concept of comparative advantage in international trade is based on the idea that countries should specialize in producing goods for which they have a lower opportunity cost. Which of the following statements best describes the opportunity cost of a country?

Answer Options

Correct Answer A. The cost of producing a good in terms of the next best alternative good
B. The cost of producing a good in terms of the next best alternative good, excluding the cost of labor
C. The cost of producing a good in terms of the next best alternative good, including the cost of labor
D. The cost of producing a good in terms of the cost of producing a different good
Correct Answer
A
Correct Option:
The cost of producing a good in terms of the next best alternative good

About This Question

This is Post Utme Greenfield University 2022 Commerce Question 6. It is one of the objective questions from the 2022 Post Utme Greenfield University Commerce examination.

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