Home >  Blossary: Microeconomic Terms  >  Term: comparative advantage
comparative advantage

Ability of one person or nation to produce a good at a lower opportunity cost than another person or nation. It is not possible to have a comparative advantage in both products.

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  • Μέρος του λόγου: noun
  • Κλάδος/Τομέας: Economy
  • Category: Economics

Microeconomics

Category: Education

Total terms: 20

Δημιουργός

  • Timmwilson
  • (Beijing, China)

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