Question

give an example of product import and export by India on the base of absolute and comparative theory ?​

Answer 1

Explanation:

Comparative advantage is when a country produces a good or service for a lower opportunity cost than other countries. Opportunity cost measures a trade-off. A nation with a comparative advantage makes the trade-off worth it. The benefits of buying its good or service outweigh the disadvantages. The country may not be the best at producing something. But the good or service has a low opportunity cost for other countries to import.1

Answer 2

Answer:

Absolute advantage is an economic term that describes when one producer of a good or service can make that product at a lower cost than another. ... For example, Nebraska might have an absolute advantage in producing corn when compared to Massachusetts, even though they are both part of the same country

Comparative advantage is when a country produces a good or service for a lower opportunity cost than other countries. Opportunity cost measures a trade-off. A nation with a comparative advantage makes the trade-off worth it. The benefits of buying its good or service outweigh the disadvantages. The country may not be the best at producing something. But the good or service has a low opportunity cost for other countries to import