A country that can produce a unit of some good with less resources than another country is considered with respect to the other country to possess a(n)________ advantage.
A) strategic
B) absolute
C) limited
D) bilateral
E) selective

Question

Quizplus · Accepted Answer

Absolute advantage refers to the ability of a country to produce a specific good with fewer resources compared to another country. It is a comparative advantage that one country has in producing a good or service at a lower cost than another country.

A Country That Can Produce a Unit of Some Good