Select the correct answer.
What is absolute advantage?
A.
having a lower opportunity cost to produce goods than other firms or nations
B.
having a lower cost of production than other firms or nations
C.
having more available resources for producing a good than other nations
D.
having fewer or no trade barriers for international trade than other nations

Question

24-07-2022
History

contestada

Select the correct answer.
What is absolute advantage?
A.
having a lower opportunity cost to produce goods than other firms or nations
B.
having a lower cost of production than other firms or nations
C.
having more available resources for producing a good than other nations
D.
having fewer or no trade barriers for international trade than other nations

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ayokenny2001 ayokenny2001 · Answer 1 · 2022-07-25T19:09:11+02:00

The correct answer is option A. Having a lower opportunity cost to produce goods than other firms or nations

What is absolute advantage?

This is when a firm or a country is able to produce more goods that others in an efficient manner.

Absolute Advantage refers to the ability of an individual, firm or country to produce more of a product of service using the same quantity of resources used by the competition.

Learn more about absolute advantage here: https://brainly.com/question/9067127

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