An absolut advantage takes place when a firm or company is able to produce a good or service at a lower cost per unit than any other. It is able to generate a larger number of product units with the same amount of inputs than other producers, and therefore its production process is the most efficient one.
In the example, Singapore is able to produce the largest amount of book units given the same amount of inputs that the other countries. Therefore, its production system is the most efficient and it is the country that holds the absolut advantage.
Port of Savannah at a Glance. Operated by the Georgia Ports Authority, the Port of Savannah is home to the largest single-terminal container facility of its kind in North America and is the 3rd fastest growing port in the nation
