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what is absolute advantage
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Asked 7/13/2016 11:36:20 AM
Updated 7/13/2016 8:17:15 PM
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This answer has been confirmed as correct and helpful.
Confirmed by jeifunk [7/13/2016 8:17:15 PM]
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User: what is absolute advantage

Weegy: In economics, the principle of absolute advantage refers to the ability of a party (an individual, or firm, or country) to produce more of a good or service than competitors, using the same amount of resources.


User: what is comparative advantage

Weegy: In economics, comparative advantage refers to the ability of a party to produce a particular good or service at a lower marginal and opportunity cost over another.



Question
Asked 7/13/2016 11:36:20 AM
Updated 7/13/2016 8:17:15 PM
0 Answers/Comments
This answer has been confirmed as correct and helpful.
Confirmed by jeifunk [7/13/2016 8:17:15 PM]
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