What's the difference between comparative advantage and absolute advantage

2 answers:

4 0

When a nation can make a product at a higher quality and faster rate than another, it has an absolute advantage ... If one nation has a lower opportunity cost than another to produce a good, it has a comparative advantage(:

irina [24]3 years ago

3 0

The produce that requires a smaller quantity input to produce a good is said to have an absolute advantage while comparative is a parties ability to produce a particular good or service at a lowering opportunity cost.

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