What is absolute advantage? the idea that a nation is better off when it produces goods and services for which it has comparative advantage the ability to produce more of a given product using a given amount of resources a good that is exported to another country for sale the ability to produce a product most efficiently given all the other products that could be produced

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15-04-2020
Social Studies

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What is absolute advantage? the idea that a nation is better off when it produces goods and services for which it has comparative advantage the ability to produce more of a given product using a given amount of resources a good that is exported to another country for sale the ability to produce a product most efficiently given all the other products that could be produced

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sholanejo sholanejo · Answer 1 · 2020-04-19T02:21:11+02:00

Answer: the ability to produce more of a given product using a given amount of resources

Explanation: Absolute advantage can be defined as the capability to produce more of a given product using the same quantity or less of of a given resource than a competing entity.

It is "Faster, more, more efficient" production. For example country A has an absolute advantage in operating call centers compared to country B because of its low cost of labor and abundant labor force