Difference between absolute and comparative advantage, Business Economics

What is the difference between absolute and comparative advantage?

Difference between absolute and comparative advantage:

• Absolute advantage arises while a country or region can create more of a product with the same factor inputs.

• Comparative advantage exists while a country has lower opportunity cost into a good or service production.

Posted Date: 8/27/2013 7:26:30 AM | Location : United States

Related Discussions:- Difference between absolute and comparative advantage, Assignment Help, Ask Question on Difference between absolute and comparative advantage, Get Answer, Expert's Help, Difference between absolute and comparative advantage Discussions

Write discussion on Difference between absolute and comparative advantage
Your posts are moderated
Related Questions
is it possible to prepare business report on company named US Select Private Opportunities Fund II

Managerial economics is the discipline which deals with application of "economic theory to business management" Discuss

1. How would you describe a market economy? 2. What distinguishes a market economy from a command economy? 3. Is there a role for government intervention in the Australian econ

You have an opportunity to invest in a new plant. The fixed costs are $100,000 per year. The marginal cost of production is $2 for a quantity up to 10,000 units per year. The margi

Assume that the per capita income in Alfaland (with initial high per capita income) is growing quicker than it is in Betaland (with initial low per capita income). Then: the gap in

Is agricultural price instability a problem for Less Developed Countries? Problem of agricultural price instability for LDCs: a. Several Less Developed Countries have a com

What is social inclusion? Social Inclusion: Social inclusion implies the whole of society enjoys the advantages of economic activity (as income) and have complete access

QUESTION ‘To assist policy makers discern e-Government initiatives in relation to their responsibility vis-à-vis other governmental issues, it is critical that the Governmen

QUESTION a) Explain with the use of appropriate techniques how can an increase in investment spills over to other sectors in the economy and what affects the final impact on ec