The meaning of absolute advantage in economic terms is that
A) one country can produce more of all goods than another country.
B) one country can produce more of a good than another country.
C) one country is relatively more efficient in producing a good than another country.
D) one country has a factor endowment allowing it to produce one good more efficiently.

Question

Quizplus · Accepted Answer

Absolute advantage refers to the ability of a country to produce more of a specific good than another country using the same amount of resources.

The Meaning of Absolute Advantage in Economic Terms Is That