They have gained a lot of praise for their high quality products and excellent service, what's the important, their prices have an absolute advantage
In terms of demographics, Ko had an "absolute advantage
" with voters under the age of 40, but a disadvantage with voters over the age of 55.
The dealer principal of the great-looking La Union branch is Absolute Advantage
A little later, David Ricardo, drawing on earlier analysis by James Mill, explained the logic of the Law of Comparative Advantage, demonstrating that even traders with "absolute advantage
" in every type of production could still gain by obtaining certain products by trade rather than by their own production.
Historically, absolute advantage
-- a country importing what it cannot produce itself, or can only produce at inordinate cost -- has always been the main motive for trade.
Maintaining a comparative and/or an absolute advantage
in the global markets is far from being the sole reason for governments to initiate trade practices perceived by others as unfair and thus actionable under mutually agreed rules.
But an absolute advantage
that favors one or another actor under the silly rubric of "competitiveness" is regularly assumed to be the same as comparative advantage for cooperation.
"Mercedes' dominance in the last three years has given the team an absolute advantage
. And Lewis has driven extremely well, but in a car that's been considerably better than the opposition.
Adam Smith (1776) argued that the principle of absolute advantage
determines patterns of trade.
The notion behind absolute advantage
is pretty simple, as one nation sells something to others that they do not have; the countries that have oil sell to those that don't, for example.
Another theory presented in 1776 by Adam Smith (Morgan, Katsikeas 1997) states that countries specialize in the production of goods they have absolute advantage