Asked by
Mayra Enriquez
on Dec 08, 2024Verified
Refer to Figure 20.2. England has an absolute advantage in producing
A) trucks.
B) both cars and trucks.
C) cars.
D) neither cars nor trucks.
Absolute Advantage
The capability of a body to generate a product or offer a service with greater efficiency than its rivals, utilizing an identical quantity of resources.
- Acquire knowledge of the fundamentals of absolute and comparative advantage in the context of global trading.
Verified Answer
AS
Learning Objectives
- Acquire knowledge of the fundamentals of absolute and comparative advantage in the context of global trading.
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