Business, 18.02.2020 05:15 zoelynn7630

A World Trade Organization publication calls comparative advantage "arguably the single most powerful insight in economics." Source: World Trade Organization, "Understanding the WTO," www. wto. org/english/thewto_e/whatis_e/tif_e /fact3_e. htm. The ability of an individual, a firm, or a country to produce a good or service at a lower opportunity cost than competitors is known as ▼ . Referring to your answer above, what makes it such a powerful insight? A. It explains why if countries specialize and trade they will be better off. B. It explains why if individuals, firms, and countries specialize and trade they will be better off. C. It explains why larger firms and countries economically dominate smaller firms and countries. D. It is the basis for establishing an economic advantage over competing firms and countries.

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