Final answer:
The law of comparative advantage refers to the ability of a person or nation to produce a good or service at a lower opportunity cost than another person or nation.
Step-by-step explanation:
The law of comparative advantage refers to the ability of a person or nation to produce a good or service at a lower opportunity cost than another person or nation. This means that even if one person or nation can produce all goods more efficiently than another, there can still be a benefit to specialization and trade if the opportunity costs are different. For example, even if Country A can produce both cars and computers more efficiently than Country B, if the opportunity cost of producing cars is lower for Country B, while the opportunity cost of producing computers is lower for Country A, it would be mutually beneficial for them to specialize accordingly and trade with each other.