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1 year ago

When one country can produce a good more cheaply than another is considered as absolute advantage?

1 answer:

6 0

With the same limitations, absolute advantage enables one company to produce more of this kind of good or service than another.

<h3>What is an example of an absolute advantage?</h3>

Consider California and Mexico as two nations that produce tequila and wine, respectively. Off to the right, a list of the goods that each country can create is presented. As you can see, California has a clear edge in creating both items because it can produce more of everything.

<h3>How is absolute advantage determined?</h3>

Low-cost production enables the achievement of an absolute advantage. In other senses, it describes a person, business, or nation that has cheaper production costs. When (in comparison to rivals): Fewer materials are required to make a product, such an advantage is developed.

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