189k views
4 votes
A(n) _____ is the benefit a country has in a given industry when it can produce more of a product than other nations using the same amount of resources?

1 Answer

7 votes

Final answer:

Absolute advantage is the benefit a country has in a given industry when it can produce more of a product than other nations using the same amount of resources.

Step-by-step explanation:

A country has an absolute advantage in a given industry when it can produce more of a product than other nations using the same amount of resources. Absolute advantage is a measure of productivity and efficiency. For example, if Country A can produce 10 cars with the same amount of resources as Country B can produce 5 cars, then Country A has an absolute advantage in car production.

User Justin Elkow
by
8.1k points

No related questions found

Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

9.4m questions

12.2m answers

Categories