The nation of Hasalot is home to roughly 95% of the world's Diamontite, a rare stone used in consumer products including watch faces, smartphones, computer monitors, and tablets. The fact that this is necessary for the production of many products we use today means Hasalot can almost name its price! Which of the following describes this situation?

Question

Quizplus · Accepted Answer

An absolute advantage is defined as an advantage that exists when a country has a monopoly in the production of a certain item, or is able to produce it more efficiently and effectively than all other countries.

The Nation of Hasalot Is Home to Roughly 95% of the World's