Question
What are the reasons that a country should specialize in a product and trade for other items? Choose all that apply.
Responses
A The country can produce more of the item than another country.The country can produce more of the item than another country.
B The country can produce an item more efficiently than another country. The country can produce an item more efficiently than another country.
C The country can produce an item at a lower opportunity cost than another country.The country can produce an item at a lower opportunity cost than another country.
D The country can produce an item at a greater opportunity cost than another countryThe country can produce an item at a greater opportunity cost than another country
E The country has a comparative advantage in producing the item over another country.The country has a comparative advantage in producing the item over another country.
Responses
A The country can produce more of the item than another country.The country can produce more of the item than another country.
B The country can produce an item more efficiently than another country. The country can produce an item more efficiently than another country.
C The country can produce an item at a lower opportunity cost than another country.The country can produce an item at a lower opportunity cost than another country.
D The country can produce an item at a greater opportunity cost than another countryThe country can produce an item at a greater opportunity cost than another country
E The country has a comparative advantage in producing the item over another country.The country has a comparative advantage in producing the item over another country.
Answers
GPT-4o mini
The reasons that a country should specialize in a product and trade for other items include:
A. The country can produce more of the item than another country.
B. The country can produce an item more efficiently than another country.
C. The country can produce an item at a lower opportunity cost than another country.
E. The country has a comparative advantage in producing the item over another country.
Option D is not a valid reason for a country to specialize and trade, as it refers to a greater opportunity cost, which would actually discourage specialization and trade in that context.
A. The country can produce more of the item than another country.
B. The country can produce an item more efficiently than another country.
C. The country can produce an item at a lower opportunity cost than another country.
E. The country has a comparative advantage in producing the item over another country.
Option D is not a valid reason for a country to specialize and trade, as it refers to a greater opportunity cost, which would actually discourage specialization and trade in that context.