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Q.

What is called Comparative Advantage?

Tags: money, careers, advantage
Asked by jafar, 10 Mar '13 10:03 pm
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Answers (2)

 
1.

In economics, the law of comparative advantage refers to the ability of a party to produce a particular good or service at a lower marginal and opportunity cost over another. Even if one country is more efficient in the production of all goods (absolute advantage in all goods) than the other, both countries will still gain by trading with each other, as long as they have different relative efficiencies.
Answered by LIPSIKA, 10 Mar '13 10:08 pm

 
  
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2.

When many people work together ,the work complete in lesser time .
Answered by Saksham Chandrawat, 10 Mar '13 11:46 pm

 
  
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