Post Utme Uniben 2022 Commerce Question 31

Practice objective / multiple choice question 31 from the 2022 Post Utme Uniben Commerce examination.

Post Utme Uniben 2022 Commerce Objective / Multiple Choice
Question 31 POST_UTME_UNIBEN • 2022 • COMMERCE • objective

The concept of specialization in production is closely related to the idea of comparative advantage. Explain how specialization leads to increased efficiency in production, using the example of a country that specializes in producing textiles.

Answer Options

Correct Answer A. Specialization leads to increased efficiency in production because it allows countries to focus on producing goods for which they have a comparative advantage.
B. Specialization leads to increased efficiency in production because it allows countries to reduce their production costs.
C. Specialization leads to increased efficiency in production because it allows countries to increase their exports.
D. Specialization leads to increased efficiency in production because it allows countries to reduce their imports.
Correct Answer
A
Correct Option:
Specialization leads to increased efficiency in production because it allows countries to focus on producing goods for which they have a comparative advantage.

About This Question

This is Post Utme Uniben 2022 Commerce Question 31. It is one of the objective questions from the 2022 Post Utme Uniben Commerce examination.

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