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    ifference between comparative and absolute advantage

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    Explain the difference between comparative advantage and absolute advantage.

    Economics is not my strong suit however, if you could maybe explain this to me in laymans terms along with maybe an example that would be great.

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    Absolute advantage refers to a condition in which a company/country can produce a product at a lower cost than other company/country. In other words, a company/ country is said to have absolute advantage if it is able to utilize fewer ...