A country has a comparative advantage over another country as regards production of goods when that country is able to produce the goods at lower cost.
What is comparative advantage?
In economic , comparative advantage can be regarded as an advantage that a country get over the other when that country can produce at lower cost.
In the law of demand and supply, it is established that consumer will definitely go for product with lower price.
- Countries that usually specialize as regards comparative advantage usually have a gain from trade.
We can conclude that at lower cost of production , a country will have comparative advantage.
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