In economic theory, a comparative advantage is defined as

0 votes
    a cost advantage Country 1 has when it can produce Good X at a lower opportunity cost, that is by giving up a lower quantity of Good Y, than Country 2.
     the market power a country has when it establishes trade patterns and strong trade relationships before other countries.
     a cost advantage Country 1 has when it can produce Good X at a higher opportunity cost but lower absolute cost than Country 2.
     a cost advantage Country 1 has when it can produce Good X with fewer inputs or has lower inputs costs than can Country 2.
asked Jun 2, 2013 in Economics by anonymous
    

1 Answer

0 votes
a cost advantage Country 1 has when it can produce Good X at a lower opportunity cost, that is by giving up a lower quantity of Good Y, than Country 2.
answered Jun 3, 2013 by Xyz ~Expert~ (3,650 points)

Related questions

0 votes
1 answer 37 views
37 views asked Jun 2, 2013 in Economics by anonymous
0 votes
1 answer 20 views
20 views asked Jun 2, 2013 in Economics by anonymous
0 votes
1 answer 22 views
22 views asked Jun 2, 2013 in Economics by anonymous
0 votes
1 answer 21 views
21 views asked Jun 2, 2013 in Economics by anonymous



...