the ability to produce a good using fewer inputs than another producer

comparative advantage

the ability to produce a good at a lower opportunity cost than another producer

goods produced domestically and sold abroad

goods produced abroad and sold domestically

whatever must be given up to obtain some item

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ECON0MICS

Mankiw, Principles of Economics Ch3

Question	Answer
absolute advantage	the ability to produce a good using fewer inputs than another producer
comparative advantage	the ability to produce a good at a lower opportunity cost than another producer
exports	goods produced domestically and sold abroad
imports	goods produced abroad and sold domestically
opportunity cost	whatever must be given up to obtain some item