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8. If a country has an absolute advantage with a certain product, what will be the likely result?
That country will start producing the product itself instead of trading for it.
That country will start producing less of that product.
That country will stop producing that product.
That country will start trading for much more of that product.
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Answer :

GinnyAnswer

Final answer:

A country with an absolute advantage in a product will benefit from trade through specialization and comparative advantage, leading to mutual gains.


Explanation:

When a country has an absolute advantage in producing a certain product, it will not stop producing that product. Rather, it will benefit from trade by specializing in goods with the lowest opportunity cost, leading to increased production efficiency and gains from trade. By trading based on comparative advantage, both countries can benefit even when one has an absolute advantage in all goods.


Learn more about International Trade here:

https://brainly.com/question/41472727


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