58 669
Assignments Done
Successfully Done
In March 2018
Your physics homework can be a real challenge, and the due date can be really close — feel free to use our assistance and get the desired result.
Be sure that math assignments completed by our experts will be error-free and done according to your instructions specified in the submitted order form.
Our experts will gladly share their knowledge and help you with programming homework. Keep up with the world’s newest programming trends.

Answer on Macroeconomics Question for oosha

Question #42267
Distinguish between absolute and comparative advantage
Expert's answer
Absolute advantage is used to describe a situation in whicha person, corporate entity or country can produce something at a price that is lower than others. Comparative advantage refers to a situation in which the same type of commodity can be produced with a lower opportunity cost than others. The difference between absolute advantage and comparative advantage lies in the difference between the advantages inherent in the two factors.

Absolute advantage is focused on the advantage of cost, while comparative advantage is based on opportunity cost. Also, absolute advantage provides more benefits in trade than comparative advantage.

Need a fast expert's response?

Submit order

and get a quick answer at the best price

for any assignment or question with DETAILED EXPLANATIONS!


No comments. Be first!

Leave a comment

Ask Your question