Question

only deposits of a rare and sought-after mineral known as Yuksporite are found in ussia. Since no other nation has deposits of Yuksporite, Russia has an in this mineral. A) diversified benefit C) relative internal benefit B) protected advantage D) absolute advantage

Answer 1

Answer:

D) absolute advantage

Explanation:

Absolute advantage is the ability of a country to make available a particular good or service much affordably than any other nation.

In application to the given scenario, since no other nation has deposits of Yuksporite, Russia has an absolute advantage in this mineral since no other nation will be able to provide Yuksporite cheaper, because they must have bought from Russia before they are able to supply to any other country and in that case they will sell at a margin

Answer 2

Answer:

D. Absolute Advantage

Explanation:

Absolute advantage represents an economics principle referring to the capability of a firm or a country or even an individual to manufacture or produce a larger quantity of a product or offer a greater quantity of a service than its competitors especially with the same amount of resource which in in reference to international trade is labour.

The absolute advantage for Russia in the question is that it has the only deposits of Yuksporite and using the same amount of labour input other countries would have used, Russia has the absolute advantage as the only manufacturer of goods that would come out of Yuksporite.