A country is said to have absolute advantage when she

Assessment: JAMB UTME - Economics - 2004 Subject: Economics

Question 1 Report

A country is said to have absolute advantage when she
Answer Details
A country has an absolute advantage when it can produce more of a certain good using fewer resources than another country. This means that the country is more efficient in producing that good than other countries. It is not related to the ability to sell goods without buying from other countries or the opportunity cost of producing a good. Therefore, the correct answer is: "can produce more of any good with fewer resources."
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