What is absolute advantage in economic terms?

Absolute advantage, in economic terms, refers to the ability of an individual, firm, or country to produce more of a good or service with the same amount of resources compared to others. This concept highlights efficiency in production, indicating that a producer can create a higher output using the same inputs than its competitors. For instance, if Country A can produce 10 units of wheat using the same resources that Country B uses to produce only 5 units, Country A has an absolute advantage in wheat production.

In this context, the other choices do not accurately capture the essence of absolute advantage. The first choice suggests producing more with fewer resources, which aligns with the concept of comparative advantage instead of absolute advantage. The third choice focuses on opportunity costs, which is better associated with comparative advantage, where entities specialize in producing goods for which they have the lowest opportunity cost. Lastly, the option concerning advanced technology is relevant but not specific to absolute advantage, as technology can influence productivity but is not a defining characteristic of the concept itself.