Country Z can produce pig iron (an intermediate product in the iron industry which is also called crude iron)more efficiently than any other country.Which type of advantage in pig iron does Country Z have?
A)Absolute advantage
B)National competitive advantage
C)Comparative advantage
D)Trade balance advantage
E)Resource advantage

Question

Quizplus · Accepted Answer

Country Z has an absolute advantage in pig iron production because it can produce it more efficiently than any other country, meaning it can produce more output with the same resources or the same output with fewer resources.

Country Z Can Produce Pig Iron (An Intermediate Product in the Iron