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Glossary Term: ABSOLUTE ADVANTAGE

Definition(s) for ABSOLUTE ADVANTAGE:


1. ) refers to a condition where a person, company or country has an absolute advantage if its output per unit of input of all goods and services produced is higher than that of another person, company or country.

2. ) A person, company or country has an absolute advantage if its output per unit of input of all goods and services produced is higher than that of another person, company or country



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