UI Post-UTME Economics 2025 (Model questions) Question 4

The concept of comparative advantage implies that:
I. A country should export goods it produces at a lower opportunity cost
II. Specialisation and trade can benefit all trading nations
III. Absolute advantage is necessary for mutually beneficial trade
IV. A country with no absolute advantage can still gain from trade

1. A.I, II and IV only
2. B.I and III only
3. C.II, III and IV only
4. D.All of the above