Which of the Following Is Correct with Respect to Absolute

question 167

Short Answer

Which of the following is correct with respect to absolute and comparative advantage?
Brazilian coffee beans are a good example of comparative advantage.
Absolute advantage exists when a country can produce something more cheaply and/or of higher quality than the next three most efficient countries.
A country has a comparative advantage when it can produce a product more efficiently or better than most (but not all) other countries.
All countries have a comparative advantage in some products.
All of these are correct.

---

Definitions:

Era of Downsizing

A period characterized by a significant reduction in the workforce of organizations to cut costs and improve efficiency.

Limited Power

A condition where an entity's authority or capacity to act and influence is restricted by external factors or internal regulations.

Cognitive Ability

The mental capacity to reason, remember, understand, solve problems, and make decisions.

Leadership Trait

Characteristic qualities or features exhibited by effective leaders, such as decisiveness, integrity, and the ability to inspire others.