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9 May, 19:58

Absolute advantage is ...

A. The ability of a Country to produce a good using fewer productive inputs than is possible anywhere else in the world

B. The ability of a Country to produce a good using more productive inputs than is possible anywhere else in the world

C. The ability of a Country to produce a good independenty of how much productive inputs to employ in producton

D. The same as comparative advantage

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Answers (1)
  1. 9 May, 23:11
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    The correct answer is option A.

    Explanation:

    Absolute advantage can be defined as the ability to produce a commodity using comparatively fewer inputs than others.

    Comparative advantage, on the other hand, refers to the ability to produce a commodity at a relatively lower opportunity cost than others.

    A country is said to be having an absolute advantage in the production of a commodity if can produce the same level of output using fewer resources or time.
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