The correct answer would be option B, Having a lower cost of production than other firms or nations.
Absolute advantage is having a lower cost of production than other firms or nations.
Explanation:
When a firm or nation can produce a product or service with less resources, or at lower cost, than other firms or nations, then this advantage is said to be the Absolute advantage.
When a firm or nation is able to produce a product or service cheaply than other firm or nation, this is called as Absolute Advantage.
We can take an example to understand the concept of Absolute Advantage. India has cheap workforce than Philippines, so India has an absolute advantage over Philippines in the Call Center Sector because India can hire workforce at a cheaper rate which can do the same task as that of the workforce in Philippines.
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Answer:
Excuse me, not to be rude, but there is nothing here. If you will paste something, I will be glad to help.
Explanation:
Answer:
During the Persian Wars, the Battle of Thermopylae (480 bce) took place in central Greece near the Thermopylae mountain pass. Leonidas led the Greek soldiers, which were largely Spartans. Leonidas and a small group remained behind to stop the attack and were beaten, despite the fact that the main army had been sent into retreat.
Explanation:
The answer is number a is true
