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Comparative advantage
COMPARATIVE ADVANTAGE

Definition: An economic term that refers to an economy's ability to produce goods and services at a lower opportunity cost than that of trade partners.
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* All seven elements should and would be in.


1. Purpose and necessity sure.

2. Production cost is lowest.

3. Opportunity cost is minimal.

4. Distribution and marketing cost affordable.

5. Pricing will be of highest possible amount.

6. Salability sure to give sustainable profit.

7. Opportunity taken to boost overall economy.
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See perfect OVERSPECIALIZATION.

See perfect ADVANTAGEOUSNESS.

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