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.
Learn more about absolute advantage at:
brainly.com/question/8141905
#LearnWithBrainly
Answer:
successfully transformed an array of states into a powerful and unified Germany
became the first Chancellor of Germany, after the unification
Answer:
Crusaders never even reached the Holy Land and instead fought in the Byzantine Empire.
Explanation:
I got it right:)
