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How is absolute advantage found? - Answers
Absolute advantage is found by comparing the productivity of different individuals, companies, or countries in producing a specific good or service. If one entity can produce more of that good or service with the same resources than another entity, it has an absolute advantage. This concept highlights efficiency in production and helps identify where trade can be beneficial, as entities can specialize in what they produce best.
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How is absolute advantage found? - Answers
Absolute advantage is found by comparing the productivity of different individuals, companies, or countries in producing a specific good or service. If one entity can produce more of that good or service with the same resources than another entity, it has an absolute advantage. This concept highlights efficiency in production and helps identify where trade can be beneficial, as entities can specialize in what they produce best.
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How is absolute advantage found? - Answers
Absolute advantage is found by comparing the productivity of different individuals, companies, or countries in producing a specific good or service. If one entity can produce more of that good or service with the same resources than another entity, it has an absolute advantage. This concept highlights efficiency in production and helps identify where trade can be beneficial, as entities can specialize in what they produce best.
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