Which term is used to refer to a country focusing on producing a relatively small number of goods or services based on what the country can produce most efficiently?

A.
opportunity cost

B.
competition

C.
specialization

D.
entrepreneurship

C. specialization

The correct answer is C. specialization.

Specialization refers to a country's strategy of focusing on producing a relatively small number of goods or services based on what the country can produce most efficiently. This allows the country to maximize productivity and take advantage of its comparative advantage in a specific area of production.

To find the answer to this question, you can use a few different approaches:

1. Knowledge and understanding: If you have a good understanding of economics, you may already know that specialization is the term used to describe this concept.

2. Process of elimination: By looking at the other answer options, you can determine that opportunity cost, competition, and entrepreneurship are not specifically tied to the idea of a country focusing on producing a small number of goods or services. Therefore, specialization is the most appropriate answer choice.

3. Research: If you're unsure about the concept or need additional information, you can research the different answer options to find the most suitable one. In this case, researching the definition of each term would reveal that specialization best matches the description given in the question.