Explain the theory of absolute advantage

In economics, the principle of absolute advantage refers to the ability of a party (an individual, or firm, or country) to produce a good or service more efficiently than its competitors. Adam Smith first described the principle of absolute advantage in the context of international trade, using labor as the only input.

Absolute advantage is when a producer can produce a good or service in greater quantity for the same cost, or the same quantity at a lower cost, than other producers. ... By specialization, division of labor, and trade, producers with different absolute advantages can always gain more than producing in isolation.

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