absolute cost advantage

English - English

Definition of absolute cost advantage in English English dictionary: {i} competitive advantage that a company has over another which is achieves by means that result in lower average costs (such as: cheaper inputs, cheaper source of raw materials, waste minimization)
absolute advantage: The capability to produce more of a given product using less of a given resource than a competing entity
Absolute Advantage: (İdari Yönetim) The ability to produce something more efficiently than any other country can
absolute advantage: (Ekonomi) The ability of an individual or group to carry out a particular economic activity more efficiently than another individual or group
absolute advantage: (Ekonomi) In economics, principle of absolute advantage refers to the ability of a party (an individual, or firm, or country) to produce more of a good or service than competitors, using the same amount of resources
absolute advantage: total advantage, ability of one company to produce a good at lower costs than any other business in the same industry (Economics)

absolute cost advantage

Hyphenation

Ab·so·lute cost ad·van·tage

äbsılut kôst ädväntîc

/ˈabsəˌlo͞ot ˈkôst adˈvantəʤ/ /ˈæbsəˌluːt ˈkɔːst ædˈvæntɪʤ/

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