Absolute advantage

From CNM Wiki

Revision as of 22:40, 30 May 2020 by Gary (talk | contribs)

(diff) ← Older revision | Latest revision (diff) | Newer revision → (diff)

Jump to: navigation, search

Absolute advantage is when one nation can produce a product at lower cost relative to another nation.

Definitions

According to Principles of Economics by Timothy Taylor (3rd edition),

Absolute advantage. When one nation can produce a product at lower cost relative to another nation.

Retrieved from "https://pravka.bskol.com/w/index.php?title=Absolute_advantage&oldid=47273"