LDCs often have a comparative advantage in the production of ?
Correct answer: A. primary products
- A. primary products
- B. intermediate products
- C. manufactured products
- D. financial services
Explanation
Less-developed countries commonly have abundant land or unskilled labour but limited capital and technology, giving them a comparative advantage in primary products such as agricultural goods and raw materials. Manufactured goods and financial services generally require greater capital and skills.
Report an error
The more specific you are, the faster it gets fixed. A source beats an opinion.
Prefer email? [email protected]
About Macroeconomics
The economy is studied as a whole through national income, gross domestic product, inflation, unemployment, economic growth and business cycles. Coverage includes aggregate demand and supply, consumption and investment, money and banking, fiscal and monetary policy, exchange rates and balance of payments, which distinguishes macroeconomics from the study of individual markets.
Practise Macroeconomics
1,499 free Macroeconomics MCQs from Economics, each with the correct answer and an explanation. Unlimited attempts, no account needed.
Discussion
Stuck on an option, or know a faster way to get there? Ask or explain it here.
No comments yet. Be the first to explain this one.
Exams that ask Economics questions like this
Economics is on 3 papers prepared for on TestUstad, and all of them draw the same bank, so this question is worth knowing for every one of them.
More Macroeconomics questions
Which of the following country did not experience large capital flights from 1976 to 1984 ?
Which of the following country did Not suffer from increased poverty from debt and financial crises in the 1990s ?
Net transfers are______________?
Output fell sharply in the transition economies because ?
To prevent the external value of the currency from falling the government might ?
The marginal propensity of consume is equal to ?