Yumshiren, an Asian country, has better access to high-end manufacturing tools than any of its neighboring countries. As a result, it produces good quality automobiles more efficiently than all of its competitors. In the given scenario, Yumshiren has a(n) _____.

Question

Quizplus · Accepted Answer

Yumshiren's ability to produce good quality automobiles more efficiently than its competitors due to better access to high-end manufacturing tools is described as an absolute advantage. This economic term refers to a country's capability to produce a good more efficiently (using fewer resources) than another country.

Yumshiren, an Asian Country, Has Better Access to High-End Manufacturing