Absolute Advantage Is

question 47

Multiple Choice

Absolute advantage is

• A) the ability to produce more output from given inputs than another producer can.
• B) the ability to produce a good at a lower opportunity cost than other producers.
• C) is always a relative concept.
• D) the ability to produce all goods at lower costs than anyone else can.

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Definitions:

Rock Layers

Strata or beds of sedimentary rock that have been deposited over time, providing clues to Earth's geological history.

Hominins

Members of the human lineage, including modern humans and all our direct ancestors, characterized by bipedalism and larger brain sizes than other primates.

Homo Sapiens

The scientific name for modern human beings, characterized by a capacity for language, social structure, and tool use.

Genus Homo

A category in biological taxonomy that includes humans and our closest extinct relatives.