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Describe about comparative cost and absolute advantages of international trade​
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17 votes
17 votes
Describe about comparative cost and absolute advantages of international trade​

User PKHunter
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17 votes
17 votes

Answer:

Here's what I know.

Step-by-step explanation:

Comparative cost talks about the difference or similarities in cost between two or more prices of good or services.

The advantages of international trade are...

1. It creates harmony between countries.

2. It encourages countries to manufacture their own products.

3. It is a source or income/revenue to the producing countries.

4. It is a good employment opportunity.

5. It improves a country's standard of living.

Hope these help... ♥

User Mahrkeenerh
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