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In the context of international trade explain briefly the concept of comparative advantage with specialization

      

In the context of international trade explain briefly the concept of comparative advantage with specialization.

  

Answers


Joseph
the principle of comparative advantage holds that under free trade an agent will produce more of and consume less of the good for which they have a comparative advantage.comparative advantage is the gain from trade to a nation which arise from differences in their factor endowment pr technological advancement. the produce has a comparative advantage if they can produce the good at a lower relative opportunity cost.
Erwoti answered the question on August 20, 2019 at 12:26


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