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Oscar Sessoms
on Dec 17, 2024

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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.
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Hitesh BhojaneDec 18, 2024
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