Absolute advantage derives from which of the following?
the best educated labor force
the most suitable climate
the least expensive labor force
the lowest cost of production
Absolute advantage derives from the lowest cost of production. This concept refers to the ability of a country or entity to produce a good or service more efficiently than another, meaning it can produce it at a lower cost. While factors like education, climate, and labor costs can influence production efficiency, the core idea of absolute advantage is centered on the overall cost-effectiveness of production.