Final answer:
The statement is true: high asset specificity can lead to increased opportunism because the specialized assets have limited alternative uses, causing dependency in relationships. Also, a comparative advantage is not only derived from natural elements but can also stem from other factors like technology and skilled labor.
Step-by-step explanation:
True: There is an increased chance of opportunism taking place when asset specificity is high. Asset specificity refers to the extent to which the assets can be redeployed to alternative uses and by alternative users without a significant loss of productive value. When investments are made in specialized assets that are highly tailored to a particular transaction, the parties involved may behave opportunistically because alternative uses or users for these assets are limited. This situation can lock parties into a relationship, potentially leading to issues such as renegotiation of terms or dependency, which opens the door for opportunistic behavior.
Comparative advantage does not exclusively come from natural elements like climate and mineral deposits. Comparative advantage can arise from multiple sources including technology, skilled labor, and innovation. These factors can all contribute to a country's ability to produce goods or services at a lower opportunity cost than other countries, thus providing a comparative advantage.