Tosches940
Answered

Welcome to Westonci.ca, where your questions are met with accurate answers from a community of experts and enthusiasts. Explore in-depth answers to your questions from a knowledgeable community of experts across different fields. Explore comprehensive solutions to your questions from knowledgeable professionals across various fields on our platform.

What are the two steps a producer can take to gain an absolute advantage? 1.Produce more goods. 2.Use high-quality resources. 3.Produce more expensive goods. 4.Use fewer resources. 5.Produce high-quality goods. 6.Use local resources. I put the answers as 2, 3, and 5. Are those correct?

Sagot :

taskmasters
 I think the correct answers from the choices listed above are options 1, 4, 5 and 6. The steps a producer can take to gain an absolute advantage are to produce more goods, use fewer resources, produce high-quality goods and use local resources. Hope this answers the question.

I believe the answers are:

1.Produce more goods

4.Use fewer resources.

5.Produce high-quality goods.

6.Use local resources

Absolute advantage refers to a situation when a producer manage to produce a product way more efficiently compared to other producer, which make them able to win competition on the market easily. Factors that could cause an absolute advantage include things such as : larger quantity, higher quality, more material availability, cheaper material cost, and low cost of production.

Thank you for visiting our platform. We hope you found the answers you were looking for. Come back anytime you need more information. We appreciate your time. Please come back anytime for the latest information and answers to your questions. We're dedicated to helping you find the answers you need at Westonci.ca. Don't hesitate to return for more.