Which of the following statements about comparative advantage is not true?
a. Comparative advantage is determined by which person or group of persons can produce a given quantity of a good using the fewest resources.
b. The principle of comparative advantage applies to countries as well as to individuals.
c. Economists use the principle of comparative advantage to emphasize the potential benefits of free trade.
d. A country may have a comparative advantage in producing a good, even though it lacks an absolute advantage in producing that good.

Explanation: In simple words, comparative advantage refers to the ability of one entity to produce a good or service more efficiently than the other. It does not focus only on the usage of resources but quality, quantity and the speed etc factors are also taken into consideration.

Thus, from the above we can conclude that the correct option is C.

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mboluwape mboluwape · Answer 2 · 2022-02-25T12:23:09+01:00

Competitive advantage can apply to countries as well as to individual businesses.

What is a Competitive advantage?

It refers to factors that allow a company or industry to produce goods or services better or more cheaply than its competitors.

There are national competitive advantages, this could favor businesses in a given country and also increase the country's worth.

Therefore, The principle of comparative advantage applies to countries as well as to individuals.

Learn more on competitive advantage here,

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