top of page
Economics explained
Category:
International trade
Absolute advantage
The secret to scoring awesome grades in economics is to have corresponding awesome notes.
A common pitfall for students is to lose themselves in a sea of notes: personal notes, teacher notes, online notes textbooks, etc... This happens when one has too many sources to revise from! Why not solve this problem by having one reliable source of notes? This is where we can help.
What makes TooLazyToStudy notes different?
Our notes:
-
are clear and concise and relevant
-
is set in an engaging template to facilitate memorisation
-
cover all the important topics in the O level, AS level and A level syllabus
-
are editable, feel free to make additions or to rephrase sentences in your own words!
Looking for live explanations of these notes? Enrol now for FREE tuition!
Some of world trade is explained by absolute advantage.
A country has an absolute advantage in producing a product if it can produce more of a product with the same quantity of resources than another country.
If France can produce wine with less resources than the UK, and the UK can produce gin with less resources than France, then France has an absolute advantage in wine and the UK an absolute advantage in gin.
bottom of page