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8 September, 14:08

In a brief paragraph discuss the difference between absolute and comparative advantage identify an example of how comparative advantage prompts trade.

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  1. 8 September, 14:27
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    For the answer to the question above, comparative advantage refers to the ability of a party to produce a particular good or service at a lower opportunity cost than another. Even if one country has an absolute advantage in producing all goods, different countries could still have different comparative advantages
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