Consider the gains from trade. What is the best definition of "absolute advantage"?

Select one:

A.

Engaging in trade is always to the absolute advantage of one party to the transaction.

B.

A situation where one country can produce one unit of all goods with fewer resources than can another country.

C.

A situation where one country can produce one unit of a given product with fewer resources than the other country.

D.

Trade fosters the self-sufficiency of nations.

E.

There will be no benefits from trade between two nations.