The Absolute Advantage Form of Competitive Advantage Means

question 93

Short Answer

The absolute advantage form of competitive advantage means
that a country does not belong to any free trade agreements.
that a country can produce everything better or more cheaply than any other country.
that a country can produce some products better or more cheaply than it can others.
that a country is the sole supplier of a product or service.
that a country can produce something better or more cheaply than any other country.

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Definitions:

Railway Labor Act

A U.S. law enacted in 1926 that seeks to avoid any interruption to commerce or to the operation of any carrier, facilitating labor relations in the railway and airline industries.

Trucking Industry

A sector encompassing businesses that provide transportation of goods by road, including both long-haul and local deliveries.

Clayton Act

An antitrust law enacted in the U.S. to promote fair competition and prevent monopolies, with provisions protecting labor unions and their activities.

Sherman Antitrust Act

A landmark federal statute passed in the United States to promote economic competition by prohibiting monopolies and restrictive trade practices.