Answer:
Comparative advantage, economic theory, first developed by 19th-century British economist David Ricardo, that attributed the cause and benefits of international trade to the differences in the relative opportunity costs (costs in terms of other goods given up) of producing the same commodities among countries.
Comparative advantage is an economy's ability to produce a particular good or service at a lower opportunity cost than its trading partners. The theory of comparative advantage introduces opportunity cost as a factor for analysis in choosing between different options for production.
Explanation:
Hope this help you out
The answer is:
careful consideration of short-term goals
recording income and spending over the past year
creating a budget to consider future income and spending
learning about opportunity cost
You could include all goals that need less than 3 month to be actualized as Short-term goals . Recording income and spending allow you to make prediction of the amount of expenditures that you must pay for the following years. Opportunity cost would help you understand the things that you need to sacrifice in order to obtain maximum value in your life.
