| 单词 | absolute advantage |
| 释义 | absolute advantageDefinition In the theory of international trade, a country or firm has an absolute advantage if it can produce a product (good or service) more 'efficiently' (cheaply) than others. First suggested by the UK economist Adam Smith (1723-90) as an extension of his division of labor doctrine. See also absolute cost advantage and competitive advantage. Use 'absolute advantage' in a SentenceThe small country was proud to have found a way to produce cotton more efficiently and cheaply than its neighbors, as it then had an absolute advantage in the region's textile business. Fortunately there was little competition at the time due to our processes that were unmatched by our rivals so we enjoyed an absolute advantage. When it came to outsourcing tech support to overseas call centers, it appeared initially that India had the absolute advantage -- until customer backlash became impossible for American companies to ignore. |
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