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12 November, 16:05

When does one country have an absolute advantage over another country?

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  1. 12 November, 16:18
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    A country with an absolute advantage over another country achieves this if their production costs are lower.

    Absolute advantage means a company or individual out perform another more efficiently. In this case, if two companies are making a product and one selling them for the same price, but one company can make the product for cheaper, they have an absolute advantage.
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