Post Utme Ui 2023 Commerce Question 26

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

Post Utme Ui 2023 Commerce Objective / Multiple Choice
Question 26 POST_UTME_UI • 2023 • 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 compared to other countries. Which of the following is a correct example of comparative advantage?

Answer Options

A. Nigeria producing cotton and importing textiles
Correct Answer B. Nigeria producing textiles and importing cotton
C. Nigeria producing both cotton and textiles
D. Nigeria importing both cotton and textiles
Correct Answer
B
Correct Option:
Nigeria producing textiles and importing cotton

About This Question

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

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