passwella.
Menu

WAEC Economics 2023 Question 47

Question 47

International Trade

Country M enjoys absolute advantage over country N in the production of commodities X and Y, if country M

  1. A.can produce only commodity Y cheaper than country N.
  2. B.is more efficient than country N in producing both commodities X and Y.
  3. C.is inefficient in the production of both commodities X and Y.
  4. D.and country N is efficient in the production of both goods.
Show the answer and explanation

Answer: B (is more efficient than country N in producing both commodities X and Y.)

Explanation

Absolute advantage means producing more efficiently than the other country.