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:
The Molotov plan was symbolic of the Soviet Union's refusal to accept aid from the Marshall Plan or allow any of their satellite states to do so because of their belief that the Plan was an attempt to weaken Soviet interest in their satellite states through the conditions imposed and by making beneficiary countries ...
Explanation:
Hi! :)
Government systems lack capacity, representative government is increasing
All 10 of them I believe <span />
Answer:
The Romans established a form of government -- a republic -- that was copied by countries for centuries. In fact, the government of the United States is based partly on Rome's model. The ladder to political power in the Roman Senate was different for the wealthy patricians than for the lower-class plebeians.
