Post Utme Ims U 2023 Commerce Question 26

Practice objective / multiple choice question 26 from the 2023 Post Utme Ims U Commerce examination.

Post Utme Ims U 2023 Commerce Objective / Multiple Choice
Question 26 POST_UTME_IMS_U • 2023 • 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 and importing other goods that it is more efficient at producing
B. By investing in research and development to improve its production efficiency
C. By implementing trade policies to restrict imports of the good
D. By increasing its production capacity to meet domestic demand
Correct Answer
A
Correct Option:
By exporting the good and importing other goods that it is more efficient at producing

About This Question

This is Post Utme Ims U 2023 Commerce Question 26. It is one of the objective questions from the 2023 Post Utme Ims U Commerce examination.

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