Answer to Question #320923 in Economics for Henok

Question #320923

What is the theory of absolute advantage

1
Expert's answer
2022-03-30T14:13:57-0400

Absolute advantage, economic concept that is used to refer to a party's superior production capability. Specifically, it refers to the ability to produce a certain good or service at lower cost (i.e., more efficiently) than another party.


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