A remote island country along the equator is the only source of a rare tropical fruit. Other countries attempted to grow the fruit in a laboratory setting but failed to succeed. This country has a(n) ________ advantage.Multiple Choicedifferentialnominalmarginalabsolute
Question
A remote island country along the equator is the only source of a rare tropical fruit. Other countries attempted to grow the fruit in a laboratory setting but failed to succeed. This country has a(n) ________ advantage.Multiple Choicedifferentialnominalmarginalabsolute
Solution
The correct answer is "absolute". This country has an absolute advantage because it is the only one that can produce this rare tropical fruit, despite attempts from other countries to replicate the process in a laboratory setting. Absolute advantage refers to the ability of an entity to produce a good or service more efficiently than any other entity.
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