Question

which of the following refers to the ability of a country to produce a certain good or service more efficiently than another country? absolute advantage opportunity cost comparative advantage marginal utility

Explanation:

• Absolute advantage is defined as a country's ability to produce a good/service more efficiently than another country.
• Opportunity cost is the value of the next best alternative foregone.
• Comparative advantage focuses on lower opportunity cost, not absolute efficiency.
• Marginal utility is the additional satisfaction from consuming one more unit of a good.

Answer:

absolute advantage