Economy, asked by arghya7265, 1 year ago

Theories of trade absolute advantage,comparative advantage and opportunity cost


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Answered by riyaz112
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In isolation, absolute advantage describes a scenario in which one entity can manufacture a product at a higher quality and a faster rate for a greater profit than another competing business or country can accomplish. Comparative advantage differs in that it takes into consideration the opportunity costs involved when choosing to manufacture multiple types of goods with limited resources.

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