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Economics (AS & A Level) · Oct / Nov 2023 · Paper 12 · Question 19

9708The reasons for international trade

Country X can produce a product at a lower opportunity cost than country Y. Which term best describes this statement?

  1. Aabsolute advantage
  2. Bcomparative advantage
  3. Cspecialisation
  4. Dterms of trade

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Correct answer: B. comparative advantage

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