The Comparative Advantage Form of Competitive Advantage Means

question 221

Short Answer

The comparative advantage form of competitive advantage means
that a country does not belong to any free trade agreements.
that a country is the sole supplier of a product or service.
that a country can produce everything better or more cheaply than any other country.
that a country can produce some products better or more cheaply than it can other products.
that a country can produce something better or more cheaply than any other country.

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Definitions:

Partnership Debts

Liabilities or financial obligations incurred by a partnership in the course of its business activities.

Limited Liability

This refers to a business structure where the owners' personal assets are protected from company debts and liabilities.

Sole Proprietorship

A company that is both owned and run by one person, with no separate legal identity between the proprietor and the business itself.

Separate Legal Entity

A business structure that is legally considered an independent entity separate from its owners, such as a corporation or LLP.