Absolute Advantage Is the Ability to Produce A

question 91

Multiple Choice

Absolute advantage is the ability to produce a:

• A) good at a lower opportunity cost than others.
• B) good with fewer inputs than others.
• C) good when demand is high.
• D) variety of goods.

---

Definitions:

TSCA

The Toxic Substances Control Act, a United States law passed by Congress in 1976 designed to regulate the introduction of new or already existing chemicals.

Premanufacturing Notice

A requirement under environmental law for manufacturers to notify a government agency before producing or importing new chemicals.

EPA

The Environmental Protection Agency, which focuses on the conservation of the environment and protecting human health through the enforcement of regulations.

Superfund

A federal program established to fund the cleanup of sites contaminated with hazardous substances and pollutants.