_____ is the ability to produce more of a product than a trading partner can.
A) Efficiency
B) Absolute advantage
C) Comparative advantage
D) Specialization

Question

Quizplus · Accepted Answer

Absolute advantage refers to the ability of a country, individual, company, or region to produce a good or service at a lower cost per unit than the competition. This concept is crucial in international trade, where it determines the most efficient allocation of resources.

_____ Is the Ability to Produce More of a Product