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A situation in which a country, individual, company or region can produce a good at a lower opportunity cost than that of a competitor
Wiki User
∙ 15y ago
Wiki User
∙ 13y agoOne feels disappointed with the results if the comparison reveals weakness/inferiority.
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The law of comparative advantage was developed by who?
David Ricardo is credited with being the person who developed the law of comparative advantage. He first mentioned it in his book "On the Principles of Political Economy and Taxation" in 1817.
What is advantage of customary law?
advantage of customary law
What is the comparative and superlative of court oust?
more courteous, most courteous
What are the Laws of economics?
Laws of economics are general statements which expresses a relationship of cause and effect between two economic phenomenon. Examples of economic laws: (i) The law of demand states that the higher the price, the lower the damand and the lower the demand the higher the price holding all other factors constant. (ii) The law of supply states the the higher the price, the higher the supply and the lower the price the lower the supply holding all other factors constant.
Compare and contrast Contributory negligence and Comparative Negligence?
Under both contributory and comparative negligence, the negligence of the defendant is not in doubt; it has been proved by the plaintiff. The basic difference between the two concepts is that comparative negligence attempts to compensate the plaintiff for some portion of her injuries, no matter how small, where as contributory negligence serves to bar completely a damage award for injury.
Has any company ever get comparative advantage in all good?
comparative advantage
Can you give me a sentence with the word comparative advantage?
i have a comparative advantage in sports when i play with the other girls
Define comparative advantage?
When a company or an individual makes a product or carry out a certain economic activity better than its competitors is called comparative advantage. A comparative advantage gives the company an advantage to make higher profits.
What is the ability of an entity to produce a good at an opportunity cost that is lower than that of another producer?
Comparative advantage :)
How do you trade arise with comparative advantage?
Trade arises under comparative advantage because of differences in pretrade relative prices.
What is comparative advantage in Grenada?
give me the answer
How does outsourcing relate to the concepts of comparative advantage and efficiency?
How does outsourcing relate to the concepts of comparative advantage and efficiency?Read more: How_does_outsourcing_relate_to_the_concepts_of_comparative_advantage_and_efficiency
Can you put comparative advantage in a sentence?
One sentence that uses "comparative advantage" in a sentence is, "A small business has a comparative advantage." The phrase pertains to the capability of a company to produces goods and services which are lower in cost compared to other companies.
What is the ability to produce a good or service at a lower opportunity cost than other producers incur is known as?
Comparative Advantage.
What term applies to this situation having a mechanic rather than dentist work on your automobile?
law of comparative advantage
What is Cambodia's comparative advantage?
Breast Milk
Specialization in a nation leads to?
comparative advantage
