Absolute Advantage

What does it Mean? The ability of a country, individual, company or region to produce a good or service at a lower cost per unit than the cost at which any other entity produces that good or service.
Investopedia Says... Entities with absolute advantages can produce something using a smaller number of inputs than another party producing the same product. As such, absolute advantage can reduce costs and boost profits. 

Terms Related Links

Comparative Advantage
Competitive Advantage
Core Competency
Eating Someone's Lunch
Eclectic Paradigm
Free Trade Area
Narrow Moat
Productivity
Soft Economic Moat
Specialization

Terms Related Links
Economics Basics: Production Possibility Frontier, Growth, Opportunity Cost and Trade - See how the actions of individuals and companies affect society.

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