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Camryn Steele
Social Studies
6 September, 02:54
The basis for free trade is a concept of
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Corinne Mcmillan
6 September, 03:23
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The concept you are talking about is the one known as comparative advantage. Most of the times, comparative advantage is compared to the competitive advantage because both of them exist when the price of inputs and outputs are an accurate indication of some kind of scarcity. This is a law that refers to the ability of producing goods at a lower opportunity cost than other economic actors
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