Question: What Kind Of Advantage Does A Country Have If It Can Make A Product More Inexpensively?

Why does the US import oil Brainly?

Explanation: Although, the United States is one of the leading producers of oil, yet still import oil because it does not produce enough oil to meet the demand of its citizens.

In other words, the United States consumes more than what she can produce..

What kind of advantage does a country have if you can make a product more inexpensively?

In economic terms, a country has a comparative advantage when it can produce at a lower opportunity cost than that of trade partners. While a country cannot have a comparative advantage in all goods and services, it can have an absolute advantage in producing all goods.

What kind of advantage does a country have if it can make a product more efficiently Brainly?

Explanation: A comparative advantage is when one country can make a good more inexpensively and efficiently in comparison to another country. Comparative advantages plays a significant role in the American and world economy.

Which situation is the best example of opportunity cost?

It is the important concept in economics and also the relationship which is between choice and scarcity. A good example of opportunity cost is you can spend money and time on other things but you can not spend time reading books or the money in doing something which can help.

What kind of advantage does a country have if it can make?

What kind of advantage does a country have if it can make a product more inexpensively? an absolute advantage. The United States is said to have an absolute advantage in producing food compared with Japan.

What is the benefit in reaching the absolute advantage in the production of one good?

The correct answer would be option C, Producing more units of a good while using fewer resources. The benefit of reaching the absolute advantage in the production of one good is producing more units of a good while using fewer resources.

Which term describes a situation in which one country can produce more of a product than other countries Brainly?

Answer: Absolute Advantage. Explanation: tramwayniceix and 21 more users found this answer helpful.

Which term describes a situation in which one country can produce a product at a lower opportunity cost than another country?

Comparative advantageThis does not, however, mean that the US does not benefit from trading for these goods with other nations. Comparative advantage describes a situation in which an individual, business or country can produce a good or service at a lower opportunity cost than another producer.

Which situation might cause a country to specialize?

Answer: Environmental conditions, inner-social conditions, and trade conditions. A country cannot choose to be where the oil is at, or if rice can grow there, so they will specialize in what they can get to grow there, much like most Middle Eastern countries and oil.

Which situation is the best example of opportunity cost quizlet?

Which situation is the best example of opportunity cost? A country chooses to produce bananas instead of wheat. How does specialization enable countries to trade with one another? A country can make and sell goods affordably and buy goods that it is inefficient at making.

What kind of advantage does a country have if it can make a product more efficiently quizlet?

Absolute advantage means a country has a monopoly on a certain product or can produce the product more efficiently than any other country.

Which situation is an example of comparative advantage in an international market?

Factories in Country A can produce the same number of tablets as factories in Country B, or the factories in Country A could be used to build more laptops than the factories in Country B is an example of comparative advantage in an international market.