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2 November, 22:57

Which of the following BEST defines absolute advantage in terms of

international trade?

OA) wheb a nation only imports and never exports

OB) when a nation only exports and never imports

OC) when a nation has more buying power than any other nation

when a nation can produce a good or service more efficiently than

any other nation

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Answers (1)
  1. 3 November, 01:35
    0
    When a nation can produce a good or service more efficiently than any other nation.

    Explanation:

    Absolute advantage is the ability to produce a greater quantity of a good or service more efficiently. This translates into a better use of inputs per unit of time, or with a lesser quantity of inputs than another producer (country, company)
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