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In the context of international trade explain briefly the concept of comparative advantage with specialization

      

In the context of international trade explain briefly the concept of comparative advantage with specialization.

  

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Joseph
the principle of comparative advantage holds that under free trade an agent will produce more of and consume less of the good for which they have a comparative advantage.comparative advantage is the gain from trade to a nation which arise from differences in their factor endowment pr technological advancement. the produce has a comparative advantage if they can produce the good at a lower relative opportunity cost.
Erwoti answered the question on August 20, 2019 at 12:26


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