A country that has ___ should export whatever it is most efficient at producing.
1. an absolute advantage
2. a comparative advantage
3. a high demand
4. a low supply
A country that has ___ should export goods and services that have a lower opportunity cost of production.
1. an absolute advantage
2. a comparative advantage
3. a high demand
4. a low supply
As a result, countries should ___ producing the goods and services for which they have the lowest ___.
1a. decrease
2a. ignore
3a. specialize in
1b. average cost
2b. marginal cost
3b. opportunity cost