2. USAEO Microeconomics

Comparative Advantage — Quiz

Test your understanding of comparative advantage with 5 practice questions.

Practice Questions

Question 1

What is the definition of comparative advantage in economics?

Question 2

If Country A can produce 10 tons of wheat or 20 tons of steel, and Country B can produce 8 tons of wheat or 16 tons of steel, which country has the comparative advantage in wheat production?

Question 3

Which of the following best describes opportunity cost?

Question 4

Country X has an absolute advantage in producing both cars and computers compared to Country Y. Which statement is true about their potential for trade?

Question 5

If the opportunity cost of producing 1 unit of cloth in Country M is 2 units of wine, and in Country N it is 3 units of wine, which country has the comparative advantage in cloth production?