Post Utme Veritas University 2020 Economics Question 23

Practice objective / multiple choice question 23 from the 2020 Post Utme Veritas University Economics examination.

Post Utme Veritas University 2020 Economics Objective / Multiple Choice
Question 23 POST_UTME_VERITAS_UNIVERSITY • 2020 • ECONOMICS • objective

U\sing the concept of opportunity \cost, explain why a country may choose to specialize in the production of a particular good even if it is not the most efficient producer of that good.

Answer Options

Correct Answer A. Because the country has a comparative advantage in the production of the good.
B. Because the country has a absolute advantage in the production of the good.
C. Because the country is the most efficient producer of the good.
D. Because the country has a fixed exchange rate.
Correct Answer
A
Correct Option:
Because the country has a comparative advantage in the production of the good.

About This Question

This is Post Utme Veritas University 2020 Economics Question 23. It is one of the objective questions from the 2020 Post Utme Veritas University Economics examination.

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