173k views
0 votes
What is the difference between absolute advantage and comparative advantage

User Aaron Reba
by
8.0k points

1 Answer

0 votes
Absolute advantage refers to the superiority of a country or business to produce a particular good better.


Comparative advantage introduces opportunity cost as a factor for analysis in choosing between different options for production diversification.
User Peter McKenzie
by
8.2k points

No related questions found

Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.