What is absolute advantage?单项选择题
A
a. An advantage a country has when they are able to produce a product using fewer resources than another country
B
b. An advantage obtained by a firm who has been given cash subsidies from the government
C
c. The advantage that one country has over another when they possess a greater quantity of resources
D
d. An advantage a country has when they are able to produce a product at a lower opportunity cost than another country
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类似问题
Refer to the data available in Table 1. Assume both countries have equal quantities of resources. Assume they can each only produce cars and bananas. Table 1 shows the quantities of each product that each country could possibly produce using the resources available. Table 1: Production Possibilities for Country A and Country B [table] | Country A | Country B Maximum possible production of cars, assuming all resources are used for car production. | 1 million | 5 million Maximum possible production of bananas, assuming all resources are used for banana production. | 20 million | 35 million [/table] Which country has an absolute advantage in producing both products?
What is absolute advantage?
Refer to the data available in Table 1. Assume both countries have equal quantities of resources. Assume they can each only produce cars and bananas. Table 1 shows the quantities of each product that each country could possibly produce using the resources available. Table 1: Production Possibilities for Country A and Country B [table] | Country A | Country B Maximum possible production of cars, assuming all resources are used for car production. | 1 million | 5 million Maximum possible production of bananas, assuming all resources are used for banana production. | 20 million | 35 million [/table] Which country has an absolute advantage in producing both products?
What is absolute advantage?
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