The Meaning of Absolute Advantage in Economic Terms Is That

question 24

Multiple Choice

The meaning of absolute advantage in economic terms is that

• A) one country can produce more of all goods than another country.
• B) one country can produce more of a good than another country.
• C) one country is relatively more efficient in producing a good than another country.
• D) one country has a factor endowment allowing it to produce one good more efficiently.