If a country is better at producing all goods,it has a(n):

Question

Quizplus · Accepted Answer

An absolute advantage occurs when a country can produce a good or service with fewer resources (e.g. time, labor, or capital) than another country. In this case, the country is better at producing all goods, which means it has an absolute advantage over other countries in terms of production. It does not necessarily mean that the country will have a trade surplus or deficit, as that also depends on factors such as demand and exchange rates.

If a Country Is Better at Producing All Goods,it Has