A comparative advantage means having the lowest cost of producing a product. Numerous factors contribute to comparative advantage. Having a comparative advantage allows a company to lower prices on ...

Mary Hall is a editor for Investopedia's Advisor Insights, in addition to being the editor of several books and doctoral papers. Mary received her bachelor's in English from Kent State University with ...

The first edition of A Concise Guide to Macroeconomics by David A. Moss was published in 2007—just as one of the world's great economic downturns was taking off. The second edition has just been ...

Martin Richardson does not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and has disclosed no relevant affiliations beyond ...

Hi. I'm Jackie Jackson, and I'm going to talk to you about comparative advantage and economies of scale. Now these are two items that a company will examine when they're determining whether or not ...

In the early 19th century David Ricardo formulated the principle of comparative advantage to explain mutual gains from trade among countries. He based it on a critical assumption: that capital did not ...

Comparative advantage refers to the fact that a country can produce a product with lower opportunity cost than another product and thus can focus on products and export products with even lower ...

DURING the 1990s, the concept of comparative advantage served as the economic foundation for agricultural production, guiding the cultivation of crops and livestock. At the time, economists emphasised ...