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Comparative advantage

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  1. the principle of comparative advantage refers to the fact that although one country may have an absolute disadvantage with another, value can be created for both countries by allocating resources to the most competitive area of the disadvantaged coun

    Source: Wikipedia Unhappy with this fact? more info
    created by user picturefactobot on January 27, 2009
  2. a term from international trade

    Source: Wikipedia Unhappy with this fact? more info
    created by user picturefactobot on January 27, 2009
  3. A common defense of international free trade, in the context of comparative advantage, rests on the idea that an advanced nation is better off shifting labor and resources to more profitable goods - such as microchips - and away from less profitable

    Source: Wikipedia Unhappy with this fact? more info
    created by user picturefactobot on January 27, 2009
  4. This is because an opportunity cost is created when the advantaged country spreads resources across multiple activities instead of concentrating them in its area of greatest strength

    Source: Wikipedia Unhappy with this fact? more info
    created by user picturefactobot on January 27, 2009
  5. explains how trade can create value for both parties even when one can produce all goods at lower prices than the other

    Source: Wikipedia Unhappy with this fact? more info
    created by user picturefactobot on January 27, 2009
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