Economy, asked by abawa6449, 11 months ago

Distinguish between the Absolute advantage and the Comparative advantage theory of trade.

Answers

Answered by piyushsahu624

Answer:

Absolute advantage refers to lowering the production cost of a specific good in comparison to competitors. Comparative advantage specifically refers to the lower opportunity cost of production of specific goods in comparison to competitors.

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Distinguish between the Absolute advantage and the Comparative advantage theory of trade.​

Answers

Distinguish between the Absolute advantage and the Comparative advantage theory of trade.