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| absolute advantage definitions | |||
|---|---|---|---|
| # | Definition | Sets | |
| 1 | the ability to produce a good using fewer inputs than another producer | 22 sets | |
| 2 | the ability of an individual, firm, or country to produce more of a good or service than competitors using the same amount of resources. | 4 sets | |
| 3 | the advantage that exists when a country has a monopoly on producing a specific product or is able to produce it more efficiently than all other countries | 4 sets | |
| 4 | occurs when an individual or entity can produce a good using fewer resources than another country or entity. | 4 sets | |
| 5 | the ability to produce using the fewest resources. | 3 sets | |
| 6 | fill in | 3 sets | |
| 7 | when one country is more efficient than any other country in producing a particular product | 2 sets | |
| 8 | one person has an absolute advantage over another if he or she takes fewer hours to perform a task than the other person | 2 sets | |
| 9 | to be able to make something using fewer resources than other producers require | 2 sets | |
| 10 | occurs when a country has natural resources or talents that allow it to produce an item at the lowest cost possible | 2 sets | |
| 11 | the advantage that exists when a country has a monopoly on producing a specific product or is able to produce it more efficiently than all other countries. | 2 sets | |
| 12 | a producer has an absolute advantage over another in the production of a good or service if it can produce that product using fewer resources. | 2 sets | |
| 13 | exists when a country can produce a good or service at a lower cost than other countries | 2 sets | |
| 14 | the ability to produce a specific product more efficiently than any other nation | 2 sets | |
| 15 | the ability of an individual, a firm, or a country to produce more of a good or service than competitors, using the same amount of resources | 2 sets | |
| 16 | if it has a monopoly on producing a specific product or is able to produce it more efficiently than all other countries | 2 sets | |
| 17 | the ability to produce more a given product using resources(most efficient) | 2 sets | |
| 18 | a situation in which a person or country is more efficient at producing a good in comparison with another person or country. | 2 sets | |
| 19 | ability to produce more of a good per unit of resource than other nations | 2 sets | |
| 20 | a business situation in which a provider of goods or services is more profitable or efficient than all of its competitors, by having a smaller total input per unit of output | 2 sets | |
| 21 | ability to produce a good using fewer inputs than another producer | 2 sets | |
| 22 | when a country can produce more of a particular good or service than another country with the same amount of resources | 2 sets | |
| 23 | produce more, ability to produce at a lower resource cost | 2 sets | |
| 24 | one person has an absolute advantage over another if he or she takes fewer hours to perform a task than the other person. | 2 sets | |
| 25 | when one takes fewer hours to perform a task than another | 2 sets | |
| 26 | when some individual, group, or country has the ability to produce a product more efficiently (or better) than another individual, group, or country. | 1 set | |
| 27 | the advantage conferred by the ability to produce a good more efficiently - at lower cost of resources- than other producers | 1 set | |
| 28 | ability to produce the same output with fewer resources | 1 set | |
| 29 | present if he/she can do it better themselves. | 1 set | |
| 30 | monopoly in producing something ex. diamonds | 1 set | |
| 31 | the ability to produce a good or service more efficiently | 1 set | |
| 32 | the benefit that a country has in a given industry when it can produce more of a product than other nations using the same amount of resources | 1 set | |
| 33 | the ability to produce a good using fewer inputs thna another producer | 1 set | |
| 34 | able to produce a good or service more efficiently | 1 set | |
| 35 | the ability of one person or nation to produce a particular good at a lower absolute cost than that of another person or nation. | 1 set | |
| 36 | (specialization) ability to produce more/same units of a good or service using a given/fewer units quantity of labor or resource inputs | 1 set | |
| 37 | the ability to produce the same quantity of a good or service using fewer units of labor resource inputs | 1 set | |
| 38 | the solution in which a country can produce more of a good than another country can produce with the same quantity of resources | 1 set | |
| 39 | when each of two producers can produce a different good or service more efficiently than can the other producer, each of the producers has an absolute advantage in the good or service that he produces most efficiently. | 1 set | |
| 40 | produce everything better | 1 set | |