The Ability of One Country That Has an Absolute Advantage

question 34

Multiple Choice

The ability of one country that has an absolute advantage in the production of two or more goods (or services) to produce one of them relatively more efficiently than the other is called a(n) _____.

• A) opportunity cost
• B) comparative advantage
• C) factor price
• D) factor endowment
• E) advantage of specialization

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