JAMB Commerce 2012 Objective — Question 8

Question 8 of 50 from the Joint Admissions and Matriculation Board (JAMB) Commerce 2012 Objective paper, with the correct answer and a full explanation.

The basis for international trade is embedded in the principle of

A. absolute advantage
B. globalization
C. deregulation
D. comparative advantageCorrect

Explanation

Comparative cost advantage states that each country should specialise in the production and export of goods which it has comparative cost advantage over the others.

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