Absolute advantage - Definition

This is when a person, firm, state or country is able to give service or goods at a lower cost compared to others. The Unit that enjoys absolute advantage need use less effort or material, but can produce more number of products. It helps to reduce cost and increase profits.

Terms near "Absolute advantage"

Absolute priority rule
Absorption rate
Abstract title
Abusive tax shelter
Accelerated benefits
Accelerated Cost Recovery System
Accelerated Depreciation
Acceleration clause
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