If a country is more efficient than any other country in the production of a product,it has what is known as relative advantage in the production of that product.

Name: If a country is more efficient than any other country in the production of a product,it has what is known as relative advantage in the production of that product.
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Question

Quizplus · Accepted Answer

A country has an absolute advantage in the production of a product when it is more efficient than any other country in producing it.

If a Country Is More Efficient Than Any Other Country