If you can produce more of something than others with the same resources, you have

A) a free-market economy.
B) an absolute advantage.
C) an efficient production system.
D) a comparative advantage.

B

Economics

You might also like to view...

According to supply-side theory, if one starts from a balanced budget, a cut in taxes will tend to cause ________

A) a budget deficit B) no change in the federal government budget C) a decrease in aggregate supply and an increase in aggregate demand D) a budget surplus

Economics

The supply curve of a firm in a competitive market is the average variable cost curve above the minimum of marginal cost

a. True b. False Indicate whether the statement is true or false

Economics