- Individual - Exists when a person can produce more of a certain good/service than someone else in the same amount of time
- National - same as individual
- Looking at what's faster, more efficient
- Individual/National - When they can produce good/service at a lower opportunity cost than another individual or nation
- Only one nation can have the absolute advantage in one product
- Looking at lower opportunity cost
Input Problem - What can be produced using least amount of resources land or time.
- Chosen Item/Forgone Item
- What is given up/what is produced
- Both problems look at lower opportunity cost
In case you having trouble doing thee calulations..
https://www.khanacademy.org/economics-finance-domain/microeconomics/choices-opp-cost-tutorial/gains-from-trade-tutorial/v/comparative-advantage-and-absolute-advantage
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