Do you have an absolute or comparative advantage in doing something over someone else?

1 answer

Comparative advantage is contrasted with absolute advantage. Absolute advantage refers to the ability to produce more or better goods and services than somebody else. Comparative advantage refers to the ability to produce goods and services at a lower opportunity cost, not necessarily at a greater volume or quality.
Similar Questions
  1. Comparative and Absolute Advantage Quick Check1 of 51 of 5 Items Question What distinguishes comparative advantage from absolute
    1. answers icon 1 answer
  2. QuizPage 30 of 31 Question 30 (1 point) Listen What is the key distinction between absolute advantage and comparative advantage
    1. answers icon 1 answer
    1. answers icon 1 answer
    1. answers icon 7 answers
more similar questions