Glossary term

Absolute Advantage

An economic term that refers to an actor's direct advantage in efficiency due to having superior production capability.

  • Updated April 19, 2022
  • First published March 29, 2022
  • Reading time 1 minute

Definition

Understand the fundamentals, context, and nuances behind this term.

An economic term that refers to an actor's direct advantage in efficiency due to having superior production capability.