See definition for Competitive Advantage.

1. (global marketing definition) A theory that holds that a country can gain from trade even if it has an absolute disadvantage in the production of all goods, or, that it can gain from trade even if it has an absolute advantage in the production of all goods. 2. (economic definition) A term that relates to both the greater absolute advantages or t [..]

A principle based on the assumption that an area will specialize in producing goods for which it has the greatest advantage or the least comparative disadvantage.

favorable circumstance in one or more areas of the production of goods and services, such as labor or raw materials.

When one nation's opportunity cost of producing an item is less than another nation's opportunity cost of producing that item. A good or service with which a nation has the largest absolute [..]

The ability to produced one good at a relatively lower opportunity cost than other goods. While pointy-headed economists developed this idea for nations, it's extremely important for people. A co [..]

The ability to produce a good at lower cost, relative to other goods, compared to another country. In a Ricardian model, comparison is of unit labor requirements; more generally it is of relative auta [..]

the idea that areas tend to be more efficient in certain economic activities than others and so should specialise in them in order to maximize their quality of life through trade.

Definition The name for the ability of one business entity to engage in production at a lower opportunity cost than another entity. Comparative advantage, rather than absolute advantage, is useful in [..]

A comparative advantage exists when a nation or economic region is able to produce a product at a lower opportunity cost compared to another nation or region.

  Doctrine says that states should 1)  produce and export whatever they can produce most efficiently relative to other states  i.e., whatever they have a comparative advantage in;  and they should 2) import those things they can't produce as efficiently from states that can

Standard economic concept accounting for gains from trade due to tendency of countries to export goods they produce relatively efficiently. "A country has comparative advantage in producing a good if the opportunity cost [value of opportunities forgone in making a choice] of producing that good in terms of other goods is lower in that country [..]

One country enjoying a lower production ratio (input to outputs) than another country under total specialisation. Comparative analysis.

A principle based on the assumption that an area will specialize in producing goods for which it has the greatest advantage or the least comparative disadvantage.

The ability to produce a good or service at a lower opportunity cost than some other producer. This is the economic basis for specialization and trade.

The ability to produce at a lower opportunity cost than another producer.

is its ability to produce a good or service at a lower opportunity cost than another entity.

The ability to produce a tradable good or service at a lower opportunity cost than it could be produced at in another country.

The relative advantage of a country in producing goods and services.

A comparative advantage exists when a nation or economic region is able to produce a product at a lower opportunity cost compared to another nation or region. The rule of economics that states that ea [..]

The modern economy, and the very world as we know it today, obviously depends fundamentally on specialization and the division of labour, between individuals, ...

This article traces the evolution of the theory of comparative advantage and the gains from trade from the pioneering work of David Ricardo to the factor ...

A situation in which a country, individual, company or region can produce a good at a lower opportunity cost than that of a competitor.

The ability to produce a good at a lower cost, relative to other goods, compared to another country. With perfect competition and undistorted markets, countries tend to export goods in which they have [..]

To illustrate the concept of comparative advantage requires at least two goods and at least two places where each good could be produced with scarce resources in each place. The example drawn here is [..]

is the ability of agents to produce goods by incurring lower opportunity costs than other agents.

The ability of one economic actor (an individual, a household, a firm, a country, etc.) to produce some particular good or service at a lower opportunity cost than other economic actors can. That is, [..]

Theory suggesting that specialization by countries can increase worldwide production.