Investopedia Video: Explaining Comparative Advantage
2:03
YouTubeInvestopedia
Investopedia Video: Explaining Comparative Advantage
Comparative advantage is the ability of an individual, company or country to produce a good or service at a lower opportunity cost than its competitor. Having a comparative advantage doesn't mean that one entity is better than another at producing a good or service. It means that it sacrifices less to do so.
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