Tosches940idn
Answered

Discover a world of knowledge and community-driven answers at IDNLearn.com today. Ask any question and get a thorough, accurate answer from our community of experienced professionals.

What are the two steps a producer can take to gain an absolute advantage? 1.Produce more goods. 2.Use high-quality resources. 3.Produce more expensive goods. 4.Use fewer resources. 5.Produce high-quality goods. 6.Use local resources. I put the answers as 2, 3, and 5. Are those correct?

Sagot :

Taskmastersidn
 I think the correct answers from the choices listed above are options 1, 4, 5 and 6. The steps a producer can take to gain an absolute advantage are to produce more goods, use fewer resources, produce high-quality goods and use local resources. Hope this answers the question.

I believe the answers are:

1.Produce more goods

4.Use fewer resources.

5.Produce high-quality goods.

6.Use local resources

Absolute advantage refers to a situation when a producer manage to produce a product way more efficiently compared to other producer, which make them able to win competition on the market easily. Factors that could cause an absolute advantage include things such as : larger quantity, higher quality, more material availability, cheaper material cost, and low cost of production.

Thank you for being part of this discussion. Keep exploring, asking questions, and sharing your insights with the community. Together, we can find the best solutions. Discover the answers you need at IDNLearn.com. Thank you for visiting, and we hope to see you again for more solutions.