You searched for: “advantage
advantage
1 A superior or favorable position in relation to someone or something: "He was hoping to gain an advantage in the negotiations with the company."
2. A circumstance or factor that places someone in a favorable position in relation to another person or to other people.
This entry is located in the following units: ad- (page 10) ante-, ant- (page 1)
Word Entries containing the term: “advantage
absolute advantage (s), absolute advantages (pl) (noun forms)
In economics, the ability of a country, individual, company, or region to produce more of a good or service with the same amount of resources, or the same amount of a good or service with fewer resources, than the cost at which any other comparable entity produces that good or service.
This entry is located in the following unit: solv-, -solu-, solut-, -sol, -soluble, -solubility, -solvent (page 1)
mechanical advantage, force ration
1. The ratio of the force produced by a machine: One example of a mechanical advantage is a lever or pulley that can be used to analyze the performance of a machine."
2. The ratio of the output force to the input force for a machine which transmits mechanical energy: "Mechanical advantage is the work produced by a machine, divided by the force applied to it".

"Actual machines can provide a mechanical advantage that is greater than unity (number or numeral one, oneness); however, the greater the mechanical advantage, the greater the distance which the input force must move in relation to the output force."

This entry is located in the following unit: mechano-, mechan-; mechanico-; machin- (page 3)
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Word Entries at Get Words containing the term: “advantage
absolute advantage
1. The ability to produce a unit of a product using fewer resources than any another producer.
2. A country has an absolute advantage if its output per unit of input of all goods and services produced is greater than that of another country.

If one person, firm, or country can produce more of something with the same amount of effort and resources, they have an absolute advantage over other producers.

The question of what to specialize in and how to maximize the benefits from international trade is determined according to comparative advantage that identifies which activities a country, firm, or individual is most efficient at doing. Both absolute and comparative advantages may change significantly over time.

This entry is located in the following unit: Economical, Business, and Financial Terms + (page 1)