If a Country Has an Absolute Advantage in Both Items

question 157

True/False

If a country has an absolute advantage in both items produced when compared to another country, there can never be any benefit for them to trade.

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Definitions:

Scope of Authority

The range or extent of power granted to an individual or entity to act on behalf of another, particularly in legal or contractual contexts.

Expressed Agency

An agency created in a written or oral agreement. Also called agency by agreement.

Apparent Agency

An agency relationship created by operation of law when one party, by his actions, causes a third party to believe Experiential Element

Insolvency

A financial state where an individual or entity cannot meet their debt obligations as they become due.