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pashok25 [27]
2 years ago
5

According to Adam Smith, a country has an absolute advantage in the production of a product when it _____.

Business
1 answer:
Zolol [24]2 years ago
3 0

According to Adam Smith, a country has an absolute advantage in the production of a product when it : is more efficient than any other country at producing it.

<h3>What is production?</h3>

Production can be defined as the process of manufacturing goods or product.

A country  can have an advantage in the production of a product  over other country when the country is good at what the produce and they are  efficient in  producing the product because they produce a desired result , with this other country will be attracted to what this country produce.

Inconclusion a country has an absolute advantage in the production of a product when it : is more efficient than any other country at producing it.

Learn more about production here:brainly.com/question/16755022

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A. The household purchase of a new refrigerator will directly lead to an increase in the consumption component of the Gross Domestic Product (GDP). Therefore, the GDP will increase by the amount of refrigerator purchased

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Given the following data for Vinyard Corporation:
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C

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a supportive leader

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3 years ago
The long-run aggregate supply curve shifts right if:
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The long-run collective supply curve shifts right if productivity increases or the price of key inputs decrease. It makes the combination of the lower inflation, higher output and lower unemployment.

<h3 /><h3>What is aggregate supply?</h3>

Aggregate supply is also called total output, it is the total production of the goods and services within an economy at the overall price at the given period.

The main two elements of aggregate supply are consumption and saving. The sum up of the national supply is the consumption expenditure and savings.

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