Home > Terms > Armenian (HY) > միանշանակ առավելություն
միանշանակ առավելություն
This is the simplest yardstick of economic performance. If one person, firm or country can produce more of something with the same amount of effort and resources, they have an absolute advantage over other producers. Being the best at something does not mean that doing that thing is the best way to use your scarce economic resources. The question of what to specialize in--and how to maximize the benefits from international trade--is best decided according to comparative advantage. Both absolute and comparative advantage may change significantly over time.
0
0
Förbättra
- Ordklass: noun
- Synonymer:
- Blossary:
- Bransch/domän: Economy
- Category: Economics
- Company: The Economist
- Produkt:
- Akronym-förkortning:
Andra språk:
Vad vill du säga?
Terms in the News
Featured Terms
Bransch/domän: Fashion Category: Brands & labels
Վիկտորիաս Սիքրեթ
A US retailer of premium quality women's fashion wear, lingerie and beauty products. Victoria's Secret is known for its annual fashion runway show, ...
Bidragsgivare
Featured blossaries
Browers Terms By Category
- Cardboard boxes(1)
- Wrapping paper(1)
Paper packaging(2) Terms
- Investment banking(1768)
- Personal banking(1136)
- General banking(390)
- Mergers & acquisitions(316)
- Mortgage(171)
- Initial public offering(137)
Banking(4013) Terms
- Industrial lubricants(657)
- Cranes(413)
- Laser equipment(243)
- Conveyors(185)
- Lathe(62)
- Welding equipment(52)
Industrial machinery(1734) Terms
- Action toys(4)
- Skill toys(3)
- Animals & stuffed toys(2)
- Educational toys(1)
- Baby toys(1)