1. Business
  2. Economics
  3. what does the term quotabsolute advantagequot mean what is the...

Question: what does the term quotabsolute advantagequot mean what is the...

Question details

What does the term "absolute advantage" mean? What is the “principle of comparative advantage”? Explain why the principle of comparative advantage is relevant to international trade policy. Is everyone better off when trading is allowed?

Solution by an expert tutor
Blurred Solution
This question has been solved
Subscribe to see this solution