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:
Lords profited from peasants working their lands
Explanation:
In feudal system peasants recieved a piece of land in return for serving a lord or king, especially during times of war.This system was created when the conqueror William became the king of England. William confiscated the land in England from the Saxon lords and allocated it to members of his own family and the Norman lords who had helped him conquer the country. The main advantage of feudalism is that it brought stability.Serfs supported the infrastructure by providing essential goods and services.
Answer:
P sure it's d :))) There's s quizzlet for it as well
Answer:
understand different dimensions of organisational culture understand the role of the cultural strength explore sub sculptures within an organisation is
