The period referred to here is called the enlightenment age
It saw the rise of scholars with enlightenment thoughts such as Hobbes, Locke and Rousseau, and Voltaire, who criticized the establishment concept of government which was autocratic,and absolute. The monarchs claimed a divine essence. The enlightenment scholars placed liberties and freedoms in the core of their thoughts and led to the rise of the concept of government by consent which lay the foundation for modern day democracy.
The congress could not effectively levy taxes. The congress was so short of cash it took them years to pay soldiers after the war ended.
<span>Nelson Mandela became president of South Africe after his release from prison.</span>
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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