Define: CDK

question 32

Short Answer

Define: CDK

---

Definitions:

Textiles

Materials made from fibers, filaments, threads, or yarns, typically used in the production of fabrics and cloth.

Comparative Advantage

The ability of an entity to produce a good or service at a lower opportunity cost compared to others.

Absolute Advantage

The ability of a country, individual, company, or region to produce a good or service at a lower cost per unit than the cost at which any other entity produces that good or service.

Productive Advantage

Occurs when a country, business, or individual produces a good or service at a lower opportunity cost than competitors, leading to more efficient production.