select the correct answer. which economic term refers to the situation where one country can manufacture and…

select the correct answer. which 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)

select the correct answer. which 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)

Answer

Brief Explanations:

Comparative advantage is an economic concept where a country can produce a good or service at a lower opportunity - cost than its competitors. In this case, manufacturing and exporting automobiles at a lower cost than others is an example of comparative advantage. Opportunity cost is the value of the next - best alternative forgone. Inflation is the general increase in prices. CPI measures changes in the price level of a basket of consumer goods and services. GDP is the total value of all final goods and services produced within a country in a given period.

Answer:

B. comparative advantage