Ask Question
BusinessBusiness
13 December, 00:17

According to the law of comparative advantage, what should be the distinguishing characteristics of the goods a nation imports?

(A) They have the lowest capital costs.

(B) They can be domestically produced cheaply.

(C) They cannot be domestically produced cheaply.

(D) They have the greatest domestic demand.

+5
Answers (1)
  1. 13 December, 03:53
    0
    The correct answer is option C.

    Explanation:

    The law of comparative advantage states that a country will produce and export the commodity it has a comparative advantage in producing.

    In other words, if the country can produce good cheaply or at a lower opportunity cost.

    The good that cannot be produced cheaply or has a higher opportunity cost will be imported from the country that produces it cheaply.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “According to the law of comparative advantage, what should be the distinguishing characteristics of the goods a nation imports? (A) They ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
When the Fed uses monetary policy targets, they cannot use both a money supply target and an interest rate target at the same time because A. It is easier for the Fed to keep track of, and influence, the interest rate B.
Answers (1)
Use the following information. Pay employee salaries of $590 by issuing checks. Purchase computer equipment of $990 using a credit card. Pay for maintenance of $390 for a company vehicle using a debit card. Record the above transactions.
Answers (1)
The balance in the unearned fees account, before adjustment at the end of the year, is $12,960. Required: Journalize the adjusting entry required if the amount of unearned fees at the end of the year is $6,960.
Answers (1)
The units of an item available for sale during the year were as follows: Jan. 1 Inventory 20 units at $360 $ 7,200 Aug. 13 Purchase 260 units at $342 88,920 Nov.
Answers (1)
An intervening force, which happens after the defendant's negligent act and contributes to the plaintiff's injury, can excuse the defendant from liability if it: could have been anticipated. was proximate. was unforeseeable.
Answers (1)
New Questions in Business
C. explain the court's guidelines for deciding discrimination cases.
Answers (1)
Changing workplace procedures tends to be counterproductive
Answers (1)
Consumption expenditures: a. Account for over two-thirds of total spending. b. Include purchases of new and used goods by consumers. c. Are equal to disposable personal income plus personal savings. d.
Answers (1)
Mary, a CPA, prepared Gordon's tax return for the current year. In preparing his return, she took a deduction that is contrary to the Code.
Answers (1)
Discuss in your own words the major characteristics of command free enterprise economies.
Answers (1)
Home » Business » According to the law of comparative advantage, what should be the distinguishing characteristics of the goods a nation imports? (A) They have the lowest capital costs. (B) They can be domestically produced cheaply.
Sign Up Forgot Password?