No Bull Economics Lessons

Macroeconomics & Microeconomics Concepts You Must Know

Essential Questions

How do you find the absolute advantage?

Posted on April 15, 2014 at 9:40 AM

To determine which country or economy has the absolute advantage in the production of a good, you simply look to see which country can produce more. If Nobully can produce 120 yak skin coats and Medicoa can only produce 60 yak skin coats, then Nobully has the absolute advantage in yak skin coats.


You can also determine absolute advantage by seeing which country can produce one unit faster or one unit with the least amount of economic resources.


AP Macroeconomics / AP Microeconomics Unit 1 Basic Economic Concepts

Categories: AP Macroeconomics, Macro Unit 1 Basic Economic Concepts, Macro Unit 6 International Trade

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