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Producing beef - PowerPoint PPT Presentation

Absolute and Comparative Advantage, and TRADE

Absolute and Comparative Advantage, and TRADE. Absolute advantage. One nation can produce more output with the same resources as the other. Comparative advantage. One nation can produce a good at a lower opportunity cost than the other. Examples of comparative advantage.

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Producing beef - PowerPoint PPT Presentation

Absolute and Comparative Advantage, and TRADE