Which of the following best defines absolute advantage?

Absolute advantage refers to the capacity of an individual, company, or country to carry out a particular economic activity more efficiently than others. This means that they can produce more of a good or service, or the same amount using fewer resources, compared to their competitors. This concept is central to the specialization and trade in economics, as it illustrates how different entities can benefit from focusing on activities where they have an efficiency edge.

In contrast to absolute advantage, the other options highlight different aspects of economic performance. Lower prices may reflect competitive advantage rather than absolute efficiency, significant market influence relates more to market power than production efficiency, and servicing more customers often pertains to scale rather than the inherent efficiency of production processes. Thus, option B is the most comprehensive and accurate definition of absolute advantage within the context of economic activities.