Comparative advantage means the ability to produce a good or service
more efficiently than another country.
with a lower opportunity cost than another country.
less efficiently than another country.
with a higher opportunity cost than another country.
Comparative advantage refers to the ability to produce a good or service with a lower opportunity cost than another country. This means that a country can produce a good or service more efficiently than another country, or with fewer resources and at a lower cost. By focusing on producing goods or services where they have a comparative advantage, countries can specialize and trade with each other to benefit from each other's strengths and increase overall economic efficiency.
