Asked by Franchezka Mendoza on Jul 24, 2024
Verified
The principle of comparative advantage states that total output is greatest when each product is made by the country that has the ____________.
Comparative Advantage
The ability of an individual, company, or country to produce a good or service at a lower opportunity cost than competitors, leading to more efficient global production and trade.
- Comprehend the principle of comparative advantage and its application to international trade.
Verified Answer
LS
Learning Objectives
- Comprehend the principle of comparative advantage and its application to international trade.