What is comparative advantage? when country A exports its goods to country B in exchange for other goods
when country A imports all the goods that country B produces in exchange for certain goods it cannot produce
when country A faces a smaller opportunity cost in the production of certain goods as compared to country B
when country A can produce all of its goods in a more cost-effective manner than country B

Why would nations in latin america be part of a mostly arab cartel group known as opec? a) latin america refused to do business with countries that were not part of opec. eliminate b) natural resources such as oil are a major economic development for some latin american countries. c) latin america has a long history of distrust of the united states and fears a take-over of oil fields. d) latin american nations such as venezuela needed in getting natural resources to other parts of the world. 15