Because it virtually controls the world's deposits of gem-quality diamonds,DeBeers Consolidated Mines,Ltd.has a(n)
A) absolute advantage.
B) comparative advantage.
C) advantage based on efficient production.
D) trade deficit.
E) balance of payment.

Question

Quizplus · Accepted Answer

An absolute advantage is a monopoly that exists when a country is the only source of an item,the only producer of an item,or the most efficient producer of an item.

Because It Virtually Controls the World's Deposits of Gem-Quality Diamonds,DeBeers