Difference between revisions of "Absolute advantage"
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| − | '''Absolute advantage''' is an [[economic]] term meaning the ability to produce a good with less inputs than the competition. | + | '''Absolute advantage''' is an [[economic]] term meaning the ability to produce the same amount of a good with less inputs than the competition. |
[[Category:economics]] | [[Category:economics]] | ||
Revision as of 21:56, July 30, 2011
Absolute advantage is an economic term meaning the ability to produce the same amount of a good with less inputs than the competition.