Absolute Advantage Is the Ability to Produce

question 35

Multiple Choice

Absolute advantage is the ability to produce:

• A)more of a good than others with a given amount of resources.
• B)relatively more of one good than any other good with a given amount of resources.
• C)a good or service at a lower opportunity cost than others can.
• D)more of a good at a lower cost than others can.

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Definitions:

Reliability Capital

The value and trustworthiness that an entity or individual gains over time by consistently being reliable and meeting expectations.

Collectivism

A social theory emphasizing the priority of group goals over individual goals and the importance of cohesion within social groups.

Power Distance

A cultural dimension that reflects the extent to which less powerful members of organizations and institutions accept and expect that power is distributed unequally.

Social Distance

The level of acceptance and comfort between individuals within a community or society, often influencing social interactions.