Comparative advantage in a Sentence  πŸ”Š

Definition of Comparative advantage

the ability of an individual or group to carry out a particular economic activity such as making a specific product more efficiently than another activity

Examples of Comparative advantage in a sentence

It is a comparative advantage for countries like Iceland who have a large supply of fish to export seafood. πŸ”Š

A country should always analyze their natural resources and use them to gain a comparative advantage over countries with a limited supply. πŸ”Š

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. πŸ”Š

Many American businesses produce their electronics in other countries, like China, for the comparative advantage of cheaper parts. πŸ”Š

Countries like India use their comparative advantage of rich fabrics and textiles to trade with other countries for money and scarce goods. πŸ”Š

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