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9 May, 06:55

Which of the following economic term refers to the situation where one country can manufacture and export automobiles at a lower cost than its competitors?

A) opportunity cost

B) comparative advantage

C) inflation

D) consumer price index (CPI)

E) gross domestic product (GDP)

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Answers (1)
  1. 9 May, 08:16
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    Answer: option B) comparative advantage.

    Comparative advantage is the advantage that has an economical agent (country in this case) to produce at a lower cost than its competitors.
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