Question

Comparative advantage is the ability to produce more of a given product using a given amount of resources.




A. True


B. False

Answer 1

@thomaster

Answer 2

when someone say has a Comparative advantage when it comes to producing a product, he or she can produce that product at a lower cost than anyone else.

another way to think about it is the ability to produce a product most efficiently given all the other products that could be produced

an absolute advantage would be when someone has the ability to produce more of a given product given a certain amount of resources.

i think that's the definition of absolute advantage which would be false, at least in my opinion.

Answer 3

@coniquee