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Homework answers / question archive / A country that has an absolute advantage in a good: a

A country that has an absolute advantage in a good: a

Business

A country that has an absolute advantage in a good:

a. Should restrict imports of that good,

b. Can produce the good at a lower opportunity cost than its trading partner,

c. Should specialize in the production of that good,

d. Can produce the good using fewer resources than its trading partner.

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The correct option is d. Can produce the good using fewer resources than its trading partner.

Explanation:

Absolute advantage refers to the advantage that describes the economies of scale of an organization or a country. A firm or country holds an absolute advantage in the products that it can produce with relatively minimum cost and resources than the other firms or countries in the market.

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