felisitynatal felisitynatal
  • 13-12-2016
  • Social Studies
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discuss the difference between absolute and comparative advantage. Identify an example of how comparative advantage prompts trade.

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GoldenbrainX
GoldenbrainX GoldenbrainX
  • 13-12-2016
Comparative advantage refers to the ability of a party to produce a particular good or service at a lower opportunity cost than another. Even if one country has an absolute advantage in producing all goods, different countries could still have different comparative advantages
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