English version

comparative advantage

From Longman Business Dictionary
Related topics: Trade, Economics
comparative advantagecomˌparative adˈvantage1[countable]ECONOMICS the advantage that one country has over another because it is better at making a particular productAmerica’s comparative advantage in high technology2[uncountable]ECONOMICS the idea that countries should specialize in making the products that they are particularly good at making, and should import products that other countries are better at making. People who support this idea believe that it is the best way for all countries to become wealthierRemoving quotas allows comparative advantage to enrich the world. advantage
Pictures of the day
What are these?
Click on the pictures to check.