WAEC Economics 2018 Objective — Question 44
Question 44 of 50 from the West African Examinations Council (WAEC) Economics 2018 Objective paper, with the correct answer and a full explanation.
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Nations engage in external trade because of
- A. differences in comparative costCorrect
- B. absolute cost
- C. fixed cost
- D. variable cost
Explanation
Nations trade because of differences in comparative costs of production — the theory of comparative advantage.
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