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Pronounce Comparative advantage as K OW M P AH R AH T IY V EH AH D V AH N T AH G EH.
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Continue readingthe ability of an individual or group to carry out a particular economic activity such as making a specific product more efficiently than another activity
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1. It is a comparative advantage for countries like Iceland who have a large supply of fish to export seafood.
2. A country should always analyze their natural resources and use them to gain a comparative advantage over countries with a limited supply.
3. When comparing both countries, Russia had a comparative advantage when it came to innovation.
4. In South America it’s a comparative advantage to harvest bananas, mangoes, and other tropical fruits and sell them to the United States for a high price.
5. Countries like India use their comparative advantage of rich fabrics and textiles to trade with other countries for money and scarce goods.
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