absolute advantage
noun[CorU]
ukusECONOMICS
anadvantageacountryhas because it canproduceaparticulartypeofproductmorecheaplythan anothercountry:
Chinahas anabsoluteadvantageoverJapan intoyproduction.
Compare
comparative advantage
Examplesofabsolute advantage
absolute advantage
Some games use a system of character levels, where higher-level characters hold anabsoluteadvantageover those of lower level.
From
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Wikipedia
This example is from Wikipedia and may be reused under a CC BY-SA license.Even if one country has anabsoluteadvantagein the production of all goods, both nations can benefit from trade due to comparative advantage.
FromThis example is from Wikipedia and may be reused under a CC BY-SA license.
Wikipedia
This example is from Wikipedia and may be reused under a CC BY-SA license.While there are possible gains from trade withabsoluteadvantage, comparative advantage extends the range of possible mutually beneficial exchanges.
FromThis example is from Wikipedia and may be reused under a CC BY-SA license.
Wikipedia
This example is from Wikipedia and may be reused under a CC BY-SA license.Developing countries have anabsoluteadvantagein textile production because it is labor-intensive and they have low labor costs.
FromThis example is from Wikipedia and may be reused under a CC BY-SA license.
Wikipedia
This example is from Wikipedia and may be reused under a CC BY-SA license.While there are possible gains from trade withabsoluteadvantage, the gains may not be mutually beneficial.
FromThis example is from Wikipedia and may be reused under a CC BY-SA license.
Wikipedia
This example is from Wikipedia and may be reused under a CC BY-SA license.This theory expanded on the concept ofabsoluteadvantagewhich does not advocate specialization and international trade in all cases.
FromThis example is from Wikipedia and may be reused under a CC BY-SA license.
Wikipedia
This example is from Wikipedia and may be reused under a CC BY-SA license.Absoluteadvantagemeant greater efficiency in production, or the use of less labor factor in production.
FromThis example is from Wikipedia and may be reused under a CC BY-SA license.
Wikipedia
This example is from Wikipedia and may be reused under a CC BY-SA license.This allows for countries to benefit from trade even when they do not have anabsoluteadvantagein any area of production.
FromThis example is from Wikipedia and may be reused under a CC BY-SA license.
Wikipedia
This example is from Wikipedia and may be reused under a CC BY-SA license.The concept ofabsoluteadvantagehowever does not address a situation where a country has no advantage in the production of a particular good or type of good.
FromThis example is from Wikipedia and may be reused under a CC BY-SA license.
Wikipedia
This example is from Wikipedia and may be reused under a CC BY-SA license.Given the possibility of technology transfer in this sector,absoluteadvantagematters (whereas in classic trade models comparative advantage alone matters). 12.
From theCambridge English Corpus
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- reprice
- repricing
- reprieve
- reprieved
- reprieving
- reprimand
- reprimanded
- reprimanding
- reprint
- reprinted
- reprinting
- reprisal
- reprise
- reprivatization
- reprivatize
- reproach
- response bias
- response format
- response latency
- response pattern
- response rate
- response-rate
- response surface
- response-surface
- response time