It Is Possible for One Person to Have an Absolute

question 14

True/False

It is possible for one person to have an absolute advantage in something even if she has no comparative advantage in anything.

---

Definitions:

Substitution

The act of replacing one thing with another, especially a similar item, in response to changes in market conditions or personal preferences.

Convex Preferences

In microeconomics, a condition where consumers prefer a mix of goods over having only one good, illustrated by a convex shape of their indifference curves.

Centered

In a general context, it means being in the middle or at the heart of something; in mathematics, it can refer to the process of adjusting data points or a distribution so that its mean equals zero.

Convex Preferences

Refers to a situation in economics where a consumer prefers a mix or combination of goods over having all of one good, demonstrating a desire for diversity in consumption.