Absolute advantage derives from which of the following?
A) the lowest cost of production
B) the most suitable climate
C) the least expensive labor force
D) the best educated labor force

Question

Quizplus · Accepted Answer

Absolute advantage is achieved by producing a good or service at the lowest cost compared to other producers. This can be due to factors such as access to cheaper raw materials, more efficient production processes, or economies of scale. Therefore, the choice that best fits this definition is A, the lowest cost of production.

Absolute Advantage Derives from Which of the Following