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- Comparative_advantage abstract "In economics, comparative advantage refers to the ability of a party to produce a particular good or service at a lower marginal and opportunity cost over another. Even if one country is more efficient in the production of all goods (absolute advantage in all goods) than the other, both countries will still gain by trading with each other, as long as they have different relative efficiencies.For example, if, using machinery, a worker in one country can produce both shoes and shirts at 6 per hour, and a worker in a country with less machinery can produce either 2 shoes or 4 shirts in an hour, each country can gain from trade because their internal trade-offs between shoes and shirts are different. The less-efficient country has a comparative advantage in shirts, so it finds it more efficient to produce shirts and trade them to the more-efficient country for shoes. Without trade, its opportunity cost per shoe was 2 shirts; by trading, its cost per shoe can reduce to as low as 1 shirt depending on how much trade occurs (since the more-efficient country has a 1:1 trade-off). The more-efficient country has a comparative advantage in shoes, so it can gain in efficiency by moving some workers from shirt-production to shoe-production and trading some shoes for shirts. Without trade, its cost to make a shirt was 1 shoe; by trading, its cost per shirt can go as low as 1/2 shoe depending on how much trade occurs.The net benefits to each country are called the gains from trade.".
- Comparative_advantage wikiPageExternalLink ch40.html.
- Comparative_advantage wikiPageExternalLink index.html.
- Comparative_advantage wikiPageExternalLink ricardo.htm.
- Comparative_advantage wikiPageExternalLink glossary.htm.
- Comparative_advantage wikiPageExternalLink ComparativeAdvantage.html.
- Comparative_advantage wikiPageExternalLink 1433.
- Comparative_advantage wikiPageExternalLink matt_ridley_when_ideas_have_sex.html.
- Comparative_advantage wikiPageID "62018".
- Comparative_advantage wikiPageRevisionID "603805211".
- Comparative_advantage hasPhotoCollection Comparative_advantage.
- Comparative_advantage subject Category:Basic_financial_concepts.
- Comparative_advantage subject Category:Economic_theories.
- Comparative_advantage subject Category:Economics_terminology.
- Comparative_advantage subject Category:International_economics.
- Comparative_advantage subject Category:International_trade.
- Comparative_advantage type Abstraction100002137.
- Comparative_advantage type Cognition100023271.
- Comparative_advantage type EconomicTheories.
- Comparative_advantage type EconomicTheory105994935.
- Comparative_advantage type Explanation105793000.
- Comparative_advantage type HigherCognitiveProcess105770664.
- Comparative_advantage type Process105701363.
- Comparative_advantage type PsychologicalFeature100023100.
- Comparative_advantage type Theory105989479.
- Comparative_advantage type Thinking105770926.
- Comparative_advantage comment "In economics, comparative advantage refers to the ability of a party to produce a particular good or service at a lower marginal and opportunity cost over another.".
- Comparative_advantage label "Avantage comparatif".
- Comparative_advantage label "Comparatief voordeel".
- Comparative_advantage label "Comparative advantage".
- Comparative_advantage label "Komparativer Kostenvorteil".
- Comparative_advantage label "Teoria dei vantaggi comparati".
- Comparative_advantage label "Teoria przewagi komparatywnej".
- Comparative_advantage label "Vantagem comparativa".
- Comparative_advantage label "Ventaja comparativa".
- Comparative_advantage label "Теория сравнительных преимуществ".
- Comparative_advantage label "أفضلية مقارنة".
- Comparative_advantage label "比較優位".
- Comparative_advantage label "比较优势".
- Comparative_advantage sameAs Komparativní_výhoda.
- Comparative_advantage sameAs Komparativer_Kostenvorteil.
- Comparative_advantage sameAs Ventaja_comparativa.
- Comparative_advantage sameAs Abantaila_konparatibo.
- Comparative_advantage sameAs Avantage_comparatif.
- Comparative_advantage sameAs Teoria_dei_vantaggi_comparati.
- Comparative_advantage sameAs 比較優位.
- Comparative_advantage sameAs 비교_우위.
- Comparative_advantage sameAs Comparatief_voordeel.
- Comparative_advantage sameAs Teoria_przewagi_komparatywnej.
- Comparative_advantage sameAs Vantagem_comparativa.
- Comparative_advantage sameAs m.0gsd1.
- Comparative_advantage sameAs Q215551.
- Comparative_advantage sameAs Q215551.
- Comparative_advantage sameAs Comparative_advantage.
- Comparative_advantage wasDerivedFrom Comparative_advantage?oldid=603805211.
- Comparative_advantage isPrimaryTopicOf Comparative_advantage.