Table 16.4
Table 16.4 gives the quantities of output that can be produced with the full amount of resources in each of two countries, France and Argentina.
-In Table 16.4, France has the absolute advantage in

Question

Table 16.4
  Table 16.4 gives the quantities of output that can be produced with the full amount of resources in each of two countries, France and Argentina.
-In Table 16.4, France has the absolute advantage in

Quizplus · Accepted Answer

Absolute advantage refers to the ability of a country to produce more of a good with the same resources compared to another country. If France has the absolute advantage in both beef and wine, it means it can produce more of both goods compared to its trading partner.

Table 16.4 Table 16.4 Gives the Quantities of Output That