Post Utme Rhema University 2022 Commerce Question 36

Practice objective / multiple choice question 36 from the 2022 Post Utme Rhema University Commerce examination.

Post Utme Rhema University 2022 Commerce Objective / Multiple Choice
Question 36 POST_UTME_RHEMA_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 value of the next best alternative
B. The quantity of the next best alternative
C. The price of the next best alternative
D. The quality of the next best alternative
Correct Answer
A
Correct Option:
The value of the next best alternative

About This Question

This is Post Utme Rhema University 2022 Commerce Question 36. It is one of the objective questions from the 2022 Post Utme Rhema University Commerce examination.

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