Economists argue that when indutrial countries trade with less developed countries both sides end up better of because of comparative advantage. What does comparative advantage mean? How does it work?
Comparative advantage refers to the ability of a person or a country to produce a particular good at a lower opportunity cost than another country.
Copyright © 2024 Q2A.ES - All rights reserved.
Answers & Comments
Verified answer
Comparative advantage refers to the ability of a person or a country to produce a particular good at a lower opportunity cost than another country.