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:
Mussolini's March on Rome 80 Years On
It's been over 90 years since Mussolini rose to power with his March on Rome. In 1922, Mussolini began his 23 years as the Fascist dictator of Italy.
Explanation:
Theodore Roosevelt, is the guy that invented teddy bears.
Answer:
I believe it is the Arabs
