Jump to content

Absolute Advantage

From The Austrian Economics Wiki, the global repository of classical-liberal thought
Revision as of 19:57, 11 January 2012 by Pestergaines (talk | contribs) (+cat)
(diff) ← Older revision | Latest revision (diff) | Newer revision → (diff)

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.

Retrieved from "https://wiki.freecapitalists.org/index.php?title=Absolute_Advantage&oldid=13137"