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21 Jan 2022
Problem 4a
Page 461
Section SELF: CHECK QUESTIONS
Chapter 19: International Trade
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21 Jan 2022
Introduction
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 quantity of inputs, than its competitors.
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