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What Are the Four Main Sources of Comparative Advantage? Briefly

question 151

Essay

What are the four main sources of comparative advantage? Briefly explain each source and provide examples.


Definitions:

Personal Characteristics

Traits or qualities that describe an individual's distinct personality or physical attributes.

Career Choice

The process of deciding on a specific career path or profession based on personal interests, values, and abilities.

Transferable Skill

A skill that is useful in a variety of jobs and industries, not just the one in which it was originally acquired.

Holland Personality

A theory that categorizes people based on six personality types—Realistic, Investigative, Artistic, Social, Enterprising, and Conventional—to match them with suitable careers.

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