Which of the following is correct with respect to absolute and comparative advantage?
Brazilian coffee beans are a good example of comparative advantage.
Absolute advantage exists when a country can produce something more cheaply and/or of higher quality than the next three most efficient countries.
A country has a comparative advantage when it can produce a product more efficiently or better than most (but not all) other countries.
All countries have a comparative advantage in some products.
All of these are correct.

Question

Quizplus · Accepted Answer

The Answer of Which of the following is correct with respect to absolute and comparative advantage?
Brazilian coffee beans are a good example of comparative advantage.
Absolute advantage exists when a country can produce something more cheaply and/or of higher quality than the next three most efficient countries.
A country has a comparative advantage when it can produce a product more efficiently or better than most (but not all) other countries.
All countries have a comparative advantage in some products.
All of these are correct.

Which of the Following Is Correct with Respect to Absolute