Absolute Advantage vs. Comparative Advantage

Now that we've learned about specialization, we are ready to learn about absolute advantage and comparative advantage. This is something that can help an individual, company, or country determine what is in their best interests to produce, by examining opportunity costs. This also leads to the concept of interdependence, which ties in with exports and imports, as we've already discussed. Take a look!

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Видео Absolute Advantage vs. Comparative Advantage канала Professor Dave Explains
absolute advantage, comparative advantage, specialization, interdependence, exports and imports, economics, opportunity cost