What does Comparative Advantage mean?
The ability of an economy to produce goods and services at a lower opportunity cost than trade partners.
A country has a Comparative Advantage when it can produce a good at a lower opportunity cost.
Comparative Advantage in German, French, Spanish and Italian
GermanKomparativer Vorteil
Grundlage für den Nutzen von internationalem Handel.
FrenchAvantage comparatif
Capacité à produire un bien avec un coût d'opportunité moindre.
SpanishVentaja comparativa
Capacidad de producir a un coste relativo menor que otros.
ItalianVantaggio comparato
Capacità di produrre un bene con un costo opportunità inferiore.
Common phrases with Comparative Advantage
- have a comparative advantage
- theory of comparative advantage
- international trade comparative advantage