Question

Absolute cost advantage theory given by adam smith

Answer 1

absolute cost advantage means its the ablity of buisness to produce more ...sell more of good or servise than ur competitiors using same amount og resource

Answer 2

Theory of Absolute Cost Advantage. ...Adam Smith propounded the theory ofabsolute cost advantage as the basis of foreign trade; under such circumstances an exchange of goods will take place only if each of the two countries can produce one commodity at an absolutely lower production costthan the other country.