Asked by
Oscar Sessoms
on Dec 17, 2024Verified
If a country is exporting a good, this is because the country has an absolute advantage in the production of that good.
Absolute Advantage
The ability of a country, individual, company, or region to produce a good or service at a lower cost per unit than the cost at which any other entity produces that good or service.
Exporting
The act of sending goods or services produced in one country to another country for the purpose of selling them there.
- Identify the connection between comparative advantage and the results of trade.
Verified Answer
HB
Learning Objectives
- Identify the connection between comparative advantage and the results of trade.