Textbook ExpertVerified Tutor
6 Nov 2021
Introduction
The concept of absolute advantage combines the concept of the economic advantage of nationwide business resources to the production of goods and services. In international trading, absolute advantage represents a scenario to show a greater profit than competing with another country that only accomplishes their quantity over quality. The whole setup influences nation to largely concentrate on resources for the production of better quality goods. The opportunity cost refers to the capable entity for superior production.
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