Absolute Advantage Is the Ability to Produce

question 56

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 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.

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Definitions:

Disposal

The act of getting rid of something, often waste, that is no longer useful or required by proper means.

Franchising Arrangements

Franchising arrangements are business models where a franchisor grants a franchisee the right to operate a business under the franchisor's trademark, sharing operational models and support.

Types

Varieties or categories of people or things that are distinguishable by a specific characteristic.

Description

A detailed representation or explanation of the features, qualities, or conditions of something, often used to give clarity or understanding.