What term refers to the resources a country has available for producing goods and services?

The term that refers to the resources a country has available for producing goods and services is factor endowment. This concept encompasses the various inputs available to a nation, including natural resources, labor, capital, and technology, which collectively determine a country's capacity to produce and trade goods and services efficiently.

Understanding factor endowment is crucial in the context of international trade as it helps to explain why countries specialize in the production of certain goods. Countries typically have different factor endowments, which leads to comparative advantages in particular industries. For example, a country with abundant natural resources may focus on agriculture or mining, while another with a well-educated workforce might specialize in technology and services.

In contrast, dumping refers to the practice of selling goods in a foreign market at a price lower than their domestic market price or below their cost of production, which is not related to a country's resources. Absolute advantage relates to a country’s ability to produce more of a good or service than another country using the same amount of resources, but it does not directly refer to the overall resources available. Free trade involves the absence of barriers to trade, allowing countries to exchange goods and services without restrictions, but again, it does not define the resources a country possesses for production.