Absolute cost advantage

Absolute cost advantage,

Definition of Absolute cost advantage:

  1. Competitive advantage gained by a company or country through cheap inputs, innovation, insider information, minimizing waste, or similar means that reduce average costs. See also earnings.

  2. The ability of individuals or groups to carry out other economic activities more efficiently than other individuals or groups.

How to use Absolute cost advantage in a sentence?

  1. When absolute profit is achieved, capitalism itself will redistribute income and wealth from rich countries to poor countries.

Meaning of Absolute cost advantage & Absolute cost advantage Definition