Absolute Advantage Answers
Definition: Absolute Advantage is the advantage conferred on an individual or nation if it can produce a good more efficiently (at lower costs of resources) than the other producer.
Example: Western countries have an absolute advantage in agriculture when compared to developing countries because of the better technology in western nations.
1. False. There are always benefits to trades.
2. A computer programmer in GE does have the absolute advantage.
3. Csonda has an absolute advantage in making sundials.
Definition: Absolute Advantage is the advantage conferred on an individual or nation if it can produce a good more efficiently (at lower costs of resources) than the other producer.
Example: Western countries have an absolute advantage in agriculture when compared to developing countries because of the better technology in western nations.
1. False. There are always benefits to trades.
2. A computer programmer in GE does have the absolute advantage.
3. Csonda has an absolute advantage in making sundials.