According to ________, a country should specialize and export goods with the lowest opportunity cost.

A) the General Agreement on Tariffs and Trade
B) the Heckscher-Ohlin theorem
C) the theory of comparative advantage
D) the theory of absolute advantage

Comparative Advantage

A principle in economics that asserts a country's ability to produce a good at a lower opportunity cost compared to another country, fostering global trade efficiency.

Opportunity Cost

The cost of forgoing the next best alternative when making a decision, a fundamental concept in economics that emphasizes the potential benefits that are lost when choosing one option over another.