Which term describes a situation in which one country can produce a product at a lower opportunity cost than another country?
A. Deficit advantage
B. Comparative advantage
C. Absolute advantage
D. Surplus advantage

B. Comparative advantage

Explanation:

Comparative advantage is when a country or company can produce goods using fewer resources compared to its rivals. It means the product will cost much less when produced by the country with a comparative advantage.

A comparative advantage means that a country will produce more output of a product when using similar inputs as rivals.  The country or company can, therefore, avail the product in the market at a lower cost. Other countries stand to gain when importing products from countries with a comparative advantage than when they manufacture.

c is the correct answer.