When one nation can produce a product at lower cost relative to another nation, it is said to have a(n) __________________ in pr

Question

weqwewe [10]

3 years ago

15

When one nation can produce a product at lower cost relative to another nation, it is said to have a(n) __________________ in pr

oducing that product. Group of answer choices

Business

1 answer:

guajiro [1.7K] · Answer 1 · 2022-01-26T00:33:24+03:00

Answer:

absolute advantage

Explanation:

In such a scenario the nation is said to have an absolute advantage in producing that product. Like mentioned, this term refers to the ability of a nation to be able to produce a greater quantity of a good, product, or service than its competitors at a lower cost. This allows the nation to profit massively as well as having more opportunities.