The Ability of One Country That Has an Absolute Advantage

question 19

Short Answer

The ability of one country that has an absolute advantage in the production of two or more goods (or services)to produce one of them relatively more efficiently than the other refers to ______.

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Definitions:

Graduated

Pertains to having completed a course of study, typically in the context of completing a degree or educational level.

Ceremony

A formal event or occasion, typically one celebrating a particular achievement or anniversary.

Disappointment

The feeling of dissatisfaction that arises from a gap between expectations and the actual performance or outcome of a product or service.

Performance

The action or process of carrying out or accomplishing an action, task, or function.