An example that illustrates the difference between comparative advantage and absolute advantage in international trade is the scenario where Country A can produce both cars and computers more efficiently than Country B. However, Country A has a comparative advantage in producing cars, while Country B has a comparative advantage in producing computers. This means that even though Country A has an absolute advantage in both products, it is more beneficial for both countries to specialize in the product they can produce most efficiently and trade with each other.
a country that makes the good it produuces
The modern theory of international trade works on assumptions of the law of comparative advantage. The comparative advantage arises as a result of differences in the various regions.
comparative cost advantage
comparative advantage
comparative advantage
a country that makes the good it produuces
a country that makes the good it produuces
Andrea Maneschi has written: 'Comparative advantage in international trade' -- subject(s): Econometric models, Comparative advantage (International trade), International trade
The modern theory of international trade works on assumptions of the law of comparative advantage. The comparative advantage arises as a result of differences in the various regions.
comparative cost advantage
comparative advantage
comparative advantage
Li-kang Sung has written: 'Changing global comparative advantage' -- subject(s): Econometric models, Commerce, Comparative advantage (International trade), International trade
theory of comparative advantage.
the principle of comparative advantage
whatever, Get lost. The answer isn't here :P
comparative advantage