If a Person Has an Absolute Advantage in Some Activity,she

question 24

True/False

If a person has an absolute advantage in some activity,she must have a comparative advantage in that activity as well.

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Definitions:

Factors Of Production

The inputs used in the production of goods or services in the attempt to make an economic profit, including land, labor, capital, and entrepreneurship.

Input

Resources used in the production process, including labor, capital, materials, and energy.

Output

The final product or service produced from the input resources in a production process.

Function

In mathematics, a relation between a set of inputs and a set of permissible outputs with the property that each input is related to exactly one output.