Post Utme Rhema University 2019 Commerce Question 11

Practice objective / multiple choice question 11 from the 2019 Post Utme Rhema University Commerce examination.

Post Utme Rhema University 2019 Commerce Objective / Multiple Choice
Question 11 POST_UTME_RHEMA_UNIVERSITY • 2019 • 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 in producing
B. By reducing the cost of production and increasing the quality of the good
C. By increasing the demand for the good and reducing the supply of other goods
D. By reducing the trade deficit and increasing the trade surplus
Correct Answer
A
Correct Option:
By exporting the good and importing other goods that it is more efficient in producing

About This Question

This is Post Utme Rhema University 2019 Commerce Question 11. It is one of the objective questions from the 2019 Post Utme Rhema University Commerce examination.

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