Millionaire Mode

Industrial Competitiveness and Comparative Advantage: Understanding Factors that Determine Industry Success

Question 1 of 15

What is the central concept of comparative advantage in international trade?

  1. Countries should specialize in producing goods where they have a lower opportunity cost.
  2. Countries should produce all goods domestically to achieve self-sufficiency.
  3. Countries should focus on exporting goods with the highest profit margins.
  4. Countries should prioritize producing goods with the lowest production costs.

Prize Money

15₹7 Crores
14₹1 Crore
13₹50,00,000
12₹25,00,000
11₹12,50,000
10₹6,40,000
9₹3,20,000
8₹1,60,000
7₹80,000
6₹40,000
5₹20,000
4₹10,000
3₹5,000
2₹2,000
1₹1,000