Country Z can produce pig iron more efficiently than any other country. Which type of advantage in pig iron does Country Z have?
A) Absolute advantage
B) National competitive advantage
C) Comparative advantage
D) Trade balance advantage
E) Resource advantage

Question

Quizplus · Accepted Answer

Country Z is able to produce pig iron more efficiently than any other country, indicating an absolute advantage in pig iron production. This means that they can produce pig iron at a lower opportunity cost compared to other countries.

Country Z Can Produce Pig Iron More Efficiently Than Any