Question

What is absolute advantage?

Answer 1

Answer:

B.  

having a lower cost of production than other firms or nations

Explanation:

Answer 2

Answer:

B.having a lower cost of production than other firms or nations

Explanation:

Absolute advantage in economy is when an individual, a company, institution or a region to produce a greater and cheaper amount of products or services than others and that puts them on an advantage that can not be met and leaves the other producers and competitors into a disadvantage because they producer can create the same product with a lower cost.