Question

________ refers to the superior features of a country that provide unique benefits in global competition, typically derived from either natural endowments or deliberate national policies. Competitive advantage Comparative advantage Absolute advantage Industrial cluster

Answer 1

Answer:

Absolute advantage

Explanation:

Absolute advantage is the ability of a country to produce a particular good, or service, at a lower cost than any other country. These lesser costs usually come from a higher endowment of a factor of production: either land, labor, or capital.

For example, China is the most populated country of the world, so it has a lot of labor. Because of this, they have lower wages than other countries, and these lower wages mean than China can produce labor-intensive goods at a lower cost than most other countries.