Post Utme Lasu 2022 Commerce Question 26

Practice objective / multiple choice question 26 from the 2022 Post Utme Lasu Commerce examination.

Post Utme Lasu 2022 Commerce Objective / Multiple Choice
Question 26 POST_UTME_LASU • 2022 • 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 implementing protectionist trade policies to shield its domestic industry.
D. By relying on its natural resources to produce the good.
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 Lasu 2022 Commerce Question 26. It is one of the objective questions from the 2022 Post Utme Lasu Commerce examination.

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