________ is the ability to produce more of a good or service than competitors when using the same amount of resources.
A)Absolute advantage
B)Comparative advantage
C)Trade superiority
D)Trade autarky

Question

Quizplus · Accepted Answer

Absolute advantage refers to the ability to produce more of a good or service than competitors when using the same amount of resources. It is a measure of productivity and efficiency in production, and allows a country or firm to specialize in producing certain goods or services where they have an absolute advantage, and then trade with other countries or firms to obtain goods and services they cannot produce as efficiently.

________ Is the Ability to Produce More of a Good