Fill in the blanks to complete the passage about gains from trade. To have an absolute advantage means to be able to produce more using the same resources. To have advantage means to have a lower. Comparative advantage is the basis for. It isfor one producer to have a comparative advantage for every good.

- absolute

- cost of raw materials

- exportation of goods

- impossible

Explanation:

To have an absolute advantage means to be able to produce more using the same resources. To have_absolute advantage means to have a lower___production/resource cost.Comparative advantage is the basis for_exportation of goods. It is__impossiblefor one producer to have a comparative advantage for every good.

If a producer is producing more using the same resources, that means he has the benefit of obtaining the raw materials at a lower cost.

Comparative advantage is the basis for exportation of goods because producers or countries focus on exporting products that give them comparative advantage, so as to make foreign earnings.

It is impossible for one producer to have comparative advantage for every good.

both are integral parts of a corporate balance sheet. the cash flow statement, or statement of cash flows, measures the sources of a company's cash and its uses of cash over a specific time period. the income statement measures a company's financial performance, such as revenues, expenses, profits or losses over a specific time period (in fact, it's sometimes called a statement of financial performance).

a cash flow statement shows exactly how much money a company has received and how much it has spent, traditionally over a period of one month. it captures the current operating results and changes on the balance sheet, such as increases or decreases in accounts receivable or accounts payable, and does not include noncash accounting items such as depreciation and amortization. the cash flow generally comes from revenue received as a result of business activity, but it may be augmented by funds available as a result of credit. a cash flow statement is used to determine the short-term viability and liquidity of a company, specifically how well it is positioned to pay its bills and vendors.

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