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Tag: Absolute Advantage Theory of International Trade

Absolute Advantage Theory of International Trade: Meaning, Examples and Notes

Posted on June 21, 2019 by JL Admin

The argument that countries differ in their ability to produce goods efficiently, and hence one country may have an advantage in the production of a product that is absolute over any other country in producing it is called absolute advantage. Efficiency is defined as producing with a minimum of waste, expense, or unnecessary effort, and…

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