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.

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Definitions:

Team Members

Individuals who are part of a group working together towards a common goal or project.

Referent Power

The ability to influence others based on their admiration, respect, or desire to identify with the influencer.

Leader's Approval

The endorsement, positive assessment, or support given by a leader to their subordinate or their decision.

Admire

To regard someone or something with respect, appreciation, or warm approval.