When Discussing Comparative And Absolute Advantage Which Best Describes Specialization? The producer that requires a smaller quantity inputs to produce a good is said to have an absolute advantage in producing that good. … Comparative advantage drives countries to specialize in the production of the goods for which they have the lowest opportunity cost, which
Will A Nation Import Or Export A Good In Which It Has A Comparative Advantage And Why? A nation will tend to export a good for which it has a comparative advantage because it has the lowest opportunity cost. Will a country import or export products for which it has a comparative advantage? Comparative advantage
What Is Country Absolute Advantage? Absolute advantage is the ability of an individual, company, region, or country to produce a greater quantity of a good or service with the same quantity of inputs per unit of time, or to produce the same quantity of a good or service per unit of time using a lesser