Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

2 To say that a country possesses an absolute advantage means that: a it is endowed with more natural resources than another country. b it

image text in transcribed
image text in transcribed
2 To say that a country possesses an absolute advantage means that: a it is endowed with more natural resources than another country. b it is more efficient at producing some but not all goods and services than another country. it is more efficient at producing all goods and services than another country. d there are no gains to specialisation for this country. it has a comparative advantage in the production of all goods and services

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

E Marketing

Authors: Raymond Frost

7th Edition INTERNATIONAL EDITION

0132953443, 978-0132953443

More Books

Students also viewed these Economics questions

Question

Demonstrate knowledge of the company/organization and the position.

Answered: 1 week ago