Answered

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A country with an absolute advantage can produce a good or service

A. more slowly than another country.
B. more efficiently than another country.
C. less efficiently than another country.
D. in twice the time as another country.

Sagot :

GinnyAnswer

Final answer:

Absolute advantage is when a country can produce a good more efficiently, while comparative advantage involves producing at a lower opportunity cost and specialization for higher global production.


Explanation:

Absolute advantage occurs when a country can produce a good more efficiently, using fewer resources than another country. This can be due to natural endowments or higher productivity.

Comparative advantage comes into play when a country can produce a good at a lower opportunity cost compared to other countries. Specializing based on comparative advantage leads to higher global production and consumption levels.

Specialization based on comparative advantage allows countries to trade goods where they have a comparative advantage, leading to mutual benefits and increased overall production.


Learn more about Absolute Advantage and Comparative Advantage here:

https://brainly.com/question/32607605


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