Post Utme Ims U 2023 Economics Question 25

Practice objective / multiple choice question 25 from the 2023 Post Utme Ims U Economics examination.

Post Utme Ims U 2023 Economics Objective / Multiple Choice
Question 25 POST_UTME_IMS_U • 2023 • ECONOMICS • objective

The concept of comparative advantage is a fundamental principle in international trade that refers to the ability of a country to produce a good at a lower opportunity \cost than another country. Which of the following best describes the concept of comparative advantage?

Answer Options

Correct Answer A. The ability of a country to produce a good at a lower opportunity \cost than another country.
B. The ability of a country to produce a good at a higher opportunity \cost than another country.
C. The ability of a country to produce a good at the same opportunity \cost as another country.
D. The ability of a country to produce a good at a lower price than another country.
Correct Answer
A
Correct Option:
The ability of a country to produce a good at a lower opportunity \cost than another country.

About This Question

This is Post Utme Ims U 2023 Economics Question 25. It is one of the objective questions from the 2023 Post Utme Ims U Economics examination.

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