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
- economic tools for nation building
- factors affecting the expansion of industries
- bud
- mineral resources and the mining industries
- demand and supply
- types of demand curve and used
- advertising industry
- factors of production
- entrepreneur
- joint stock company
- RINDER PESTS
148. NEWCASTLE DISEASE
149. BACTERIA DISEASES
150. ANTHRAX
151. BRUCELLOSIS
152. TUBERCULOSIS
153. FUNGAL DISEASES
