Absolute advantage is the ability to produce a good or service more efficiently than it can be produced elsewhere.

Name: Absolute advantage is the ability to produce a good or service more efficiently than it can be produced elsewhere.
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Question

Quizplus · Accepted Answer

Absolute advantage refers to the ability of a country, company or individual to produce a good or service using fewer resources than another country or individual. This means they are more efficient and can produce more output in less time or with less input.

Absolute Advantage Is the Ability to Produce a Good or Service