When a country is more efficient than any other country in producing a product, it has absolute advantage in the production of that product

Question

Quizplus · Accepted Answer

Absolute advantage means that a country can produce a product with fewer resources or at a lower cost compared to other countries. Therefore, if a country is more efficient than any other country in producing a product, it has an absolute advantage in that product's production.

When a Country Is More Efficient Than Any Other Country