Home > Terms > English, UK (UE) > Comparative advantage

Comparative advantage

When one nation's opportunity cost of producing an item is less than another nation's opportunity cost of producing that item. A good or service with which a nation has the largest absolute advantage (or smallest absolute disadvantage) is the item for which they have a comparative advantage.

This is auto-generated content. You can help to improve it.
0
Collect to Blossary

Member comments

You have to log in to post to discussions.

Terms in the News

Featured Terms

Harry8L
  • 0

    Terms

  • 0

    Blossaries

  • 1

    Followers

Industry/Domain: People Category: Politicians

Hugo Chavez

Hugo Rafael Chávez Frías (28 July 1954 – 5 March 2013) was the President of Venezuela since 1999. After an unsuccessful coup d'etat in 1992 against ...

Contributor

Featured blossaries

The Sinharaja Rain Forest

Category: Travel   1 20 Terms

WWDC14

Category: Technology   1 3 Terms

Browers Terms By Category