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What Is the Difference Between an Absolute Advantage and a Comparative

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What is the difference between an absolute advantage and a comparative advantage?


Definitions:

Income Inequality

The unequal distribution of income among members of a society.

Gini Ratio

An assessment of the variation in income levels within a population, where 0 reflects equality in earnings and 1 reflects the highest possible inequality.

Income Inequality

The uneven distribution of income across various participants in an economy.

Income Inequality

The uneven distribution of income within a population, leading to a gap between the wealthiest and the poorest individuals.

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