Which of the following statements accurately describe the concepts of comparative and absolute advantage? Select all that apply.

Comparative advantage means that a person or country can produce a good or service at a lower opportunity cost than others. This means they give up less of other things to make it. For example, if Country A can produce cars more efficiently than Country B, but Country B can produce wheat more efficiently than Country A, then Country A has a comparative advantage in cars, while Country B has it in wheat. On the other hand, absolute advantage refers to the ability to produce more of a good or service with the same resources than another person or country. So, if Country A can produce 100 cars while Country B can only produce 50 cars with the same resources, Country A has an absolute advantage in car production.