Economy

What is Absolute Advantage Absolute advantage measures the economic performance. If an entry can produce more of something using the same amount of resources and effort, then this entity has an absolute advantage over all other entities which are underperforming.  An entity can be a firm or a country or an individual. There are a lot of ways to utilize the resources. Amazon as an example Let’s look at Amazon company. When Amazon did not start its cloud computing business it was using its resources to produce the output which was only driving their specific business, and a lot of resources got wasted. Now AmazonRead More →