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  4. Absolute and comparative advantage

3.1 Absolute and comparative advantage

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  • Card 14 / 15:
    absolute advantage

    when one country can use fewer resources to produce a good compared to another country; when a country is more productive compared to another country

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Practice FlashCards 9 Key Terms 2

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Source:  OpenStax, Principles of macroeconomics. OpenStax CNX. Jan 09, 2015 Download for free at http://legacy.cnx.org/content/col11750/1.2
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