An absolute advantage exists when a country can produce something more cheaply and/or of higher quality than any other country.

Name: An absolute advantage exists when a country can produce something more cheaply and/or of higher quality than any other country.
Brand: Quizplus
Rating: 4.8 (36 reviews)

Question

Quizplus · Accepted Answer

This is the definition of absolute advantage. When a country has an absolute advantage in producing a particular good or service, it means that it can produce that good or service more efficiently and/or at a lower cost than any other country.

An Absolute Advantage Exists When a Country Can Produce Something