Absolute Advantage: Difference between revisions
m added {{stub}} |
Pestergaines (talk | contribs) +cat |
||
| Line 1: | Line 1: | ||
'''Absolute Advantage''' is an analytical descriptive category of a entity (country, business, or individual) who is more efficient than its trading partners at all [[production]]. It is used as a device to describe why certain countries, despite their wealth and advantages, may trade with disadvantaged countries by way of the law of [[comparative advantage]]. | |||
[[Category:Economic concepts]] | |||
{{stub}} | {{stub}} | ||
Latest revision as of 19:57, 11 January 2012
Absolute Advantage is an analytical descriptive category of a entity (country, business, or individual) who is more efficient than its trading partners at all production. It is used as a device to describe why certain countries, despite their wealth and advantages, may trade with disadvantaged countries by way of the law of comparative advantage.