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What is absolute advantage?
Absolute advantage is the capability to produce more of a given product using less of a given resource than a competing entity.
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Asked 3/27/2012 5:36:52 PM
Updated 11/22/2016 11:16:46 AM
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Edited by yumdrea [11/22/2016 11:16:45 AM]
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Absolute advantage is the capability to produce more of a given product using less of a given resource than a competing entity.

Added 11/22/2016 11:16:46 AM
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All of the following helped compose the Federalist Papers EXCEPT: A. James Madison B. Alexander Hamilton C. Patrick Henry D. John Jay
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absolute advantage?
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Updated 3/6/2014 4:09:00 PM
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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.
Added 3/6/2014 4:09:00 PM
This answer has been confirmed as correct and helpful.
Confirmed by andrewpallarca [3/6/2014 4:15:51 PM], Rated good by andrewpallarca
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