bsolute advantage is determined by:

Question

Relative differences in labour productivity

Actual differences in labour productivity

The lowest opportunity cost

none of the above

Question 72
Question 72

Answer 1

Absolute advantage is determined by actual differences in labor productivity. This means that a country or individual has an absolute advantage if they can produce more of a good or service with the same amount of resources compared to others.

So the correct answer for Question 72 is:

Actual differences in labor productivity.