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Absolute Cost

Absolute Advantage: Examples, Assumptions, Criticism

Updated on January 23, 2023 by Ahmad Nasrudin

Absolute Advantage: Examples, Assumptions, Criticism

What's it: Absolute advantage refers to the ability to produce goods or services more efficiently than others. As a result, those with this

Topic: Absolute Cost, Comparative Advantage, International Trade, Opportunity Cost Category: Macroeconomics

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