Question

What are the two steps a producer can take to gain an absolute advantage? produce more goods. use high-quality resources. produce more expensive goods. use fewer resources. produce high-quality goods. use local resources.

Answer 1

Answer:

The correct answers are 1) produce more goods and 4) use fewer resources.

Explanation:

In the economic theory the definition of absolute advantage is the ability to produce as much of a product as possible while using few resources. On the other hand, comparative advantage is something that can help a producer sell a good at a low price which is attractive for customers while retaining good sale margins.