Question 14 (1 point) Which of the following is an example of a land-intensive commodity? Question 14 options:
|refutes the principle of comparative advantage.|
|may limit the extent to which a nation specializes in producing a particular product.|
|results in straight-line production possibilities curves rather than curves that are bowed outward from the origin.|
|applies to land-intensive commodities but not to labor-intensive or capital-intensive commodities.|
The answer is Wool.
An example of a land-intensive commodity is wool of the given examples.Land intensive means that the process of production would require more land.
The answer is
may limit the extent to which a nation specializes in producing a particular product
According to the law of increasing opportunity cost when productive factors are at full efficiency increasing production will increase costs above average.