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denis23 [38]
3 years ago
9

What does it mean to have an "absolute advantage” in production?

Business
1 answer:
Shalnov [3]3 years ago
5 0

Answer:

In economics, the principle of absolute advantage refers to the ability of a party (an individual, or firm, or country) to produce a greater quantity of a good, product, or service than competitors, using the same amount of resources

(i.e :  India has an absolute advantage in operating call centers compared to the Philippines because of its low cost of labor and abundant labor force.)

Explanation:

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