THE PRINCIPLE OF ABSOLUTE ADVANTAGE

THE PRINCIPLE OF ABSOLUTE ADVANTAGE

The principle of absolute advantage was propounded by Adam Smith and it states that a country should specialize in the production of a commodity or commodities and services in which it has absolute advantage over other countries. According to Adam Smith, a country has an absolute advantage over other countries if she can produce a commodity or service which other countries cannot produce. Again, give the same unit of resources, a country h absolute advantages where she can produce two commodities concerned at the least cost

  1.     economic tools for nation building
  2.  
  3. factors affecting the expansion of industries
  4. bud
  5. mineral resources and the mining industries
  6. demand and supply
  7. types of demand curve and used
  8. advertising industry
  9. factors of production
  10. entrepreneur
  11. joint stock company
  1. RINDER PESTS
    148. NEWCASTLE DISEASE
    149. BACTERIA DISEASES
    150. ANTHRAX
    151. BRUCELLOSIS
    152. TUBERCULOSIS
    153. FUNGAL DISEASES

PROTOZOAN DISEASES
155. TRYPONOSOMIASIS


ir Conditional Perfect - Video Cour...
ir Conditional Perfect - Video Course

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