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:
Pangunahing sanhi ng Rebolusyong Amerikano ng kolonyal na pagtutol sa mga pagtatangka ng British na magpataw ng higit na kontrol sa mga kolonya at gawin silang bayaran ang korona para sa pagtatanggol sa kanila noong Digmaang Pransya at India (1754–63). ... Alamin ang tungkol sa Boston Tea Party, ang radikal ng mga kolonista
Answer:
he had power, money, and influence
Answer:
Mayan, Aztec, and Incan Civilizations:Question 1
Due to the Aztec's values, they sent their children where?
Select one:
School to get an education
Home to support their families
War to increase their land
Farms to work and gather more food
Explanation:
Mayan, Aztec, and Incan Civilizations:Question 1
Due to the Aztec's values, they sent their children where?
Select one:
School to get an education
Home to support their families
War to increase their land
Farms to work and gather more food
