(MENAFN- The Conversation) For the best part of two centuries, the principle of“comparative advantage” has been a foundation stone of economists' understanding of international trade, both of why it ...

A firm or country has a comparative advantage in the production of good X in the opportunity cost of producing a unit of X, in terms of other goods foregone, is lower, in that country compared with ...

A comparative advantage occurs in economics, when a country can produce a good or service at a lower opportunity cost than another country. The theory of comparative advantage is attributed to ...

A comparative advantage means having the lowest cost of producing a product. Numerous factors contribute to comparative advantage. Having a comparative advantage allows a company to lower prices on ...

Simply sign up to the German economy myFT Digest -- delivered directly to your inbox. Michael Pettis is a Beijing-based associate of the Carnegie Endowment for International Peace. In a New York Times ...

An economic entity's technical ability to produce some particular product is, by itself, irrelevant for determining if that entity should produce that product itself or, instead, acquire that product ...

The theory of comparative advantage suggests that a country should specialize in production of a good or services in which it has a comparative advantage. This would mean that United States should ...

Gaining competitive advantage is key to increasing market share and ultimately profits, but what is competitive advantage and how does it apply to today’s globalized economy? Understanding the ...