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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:
I can compare South Carolina's government during the proprietary regime with its government as a royal colony. had political power. In order to attract settlers to the colony, the proprietors gave some political power to property owners
Explanation:
Answer:
Explanation:
East Germany, Poland, Czechoslovakia, Romania, Bulgaria, Mongolia, People's Republic of China, Sinkiang, Turkey, Cuba, North Korea, and Paraguay would all support the Soviet Union.
Great Britain, France, West Germany, Belgium, Netherlands, Norway, Australia, New Zealand, Canada, Mexico, Brazil, Italy, Japan, South Korea, South Africa and Israel would support the (North Atlantic Treaty Organization) or The United State
Answer:
Option C.
Explanation:
The blockade of West Berlin was counteract by the establishment of a massive airlift with supplies from the United States, France and the United Kingdom in 1948 and 1949. The right answer is C.
