JAMB Commerce 2017 Objective — Question 23

Question 23 of 40 from the Joint Admissions and Matriculation Board (JAMB) Commerce 2017 Objective paper, with the correct answer and a full explanation.

The basis for international trade is embedded in the principle of

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

Explanation

Comparative advantage — that countries should specialise in producing goods where they have a relative cost advantage — underpins international trade theory.

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