Question

law of comparative advantage

Answer 1

Comparative advantage is an economic law referring to the ability of any given economic actor to produce goods and service at a lower opportunity cost than other economic actors.

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Answer 2

Answer:

The law of comparative advantage is such that under the circumstances of free trade system, one country will produce those goods in which they specialize and they can produce that good more than what they consume of that same good. They will have a comparative advantage in the production of this good, the other country will do the same for whatever good they can produce.

Explanation:

To further understand better these producers of the countries calculate their opportunity costs of the the production of the goods to see what step they need to take.