Explain the Difference Between Absolute Advantage and Comparative Advantage

question 99

Essay

Explain the difference between absolute advantage and comparative advantage. Which is more important in determining trade patterns, absolute advantage or comparative advantage? Why?

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Definitions:

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Mistakes made in the use of grammar, leading to incorrect structure or usage in written or spoken language.

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The examination and validation of hypotheses or theories through direct observation and experimentation, fundamental to the scientific method.

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