Explain the Difference Between Absolute Advantage and Comparative Advantage

question 82

Essay

Explain the difference between absolute advantage and comparative advantage.

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Definitions:

Genetic Polymorphism

The presence in a population of two or more alleles for a given gene locus.

Natural Selection

A fundamental mechanism of evolution where organisms better adapted to their environment tend to survive and reproduce more than others.

Evolution

The process by which different kinds of living organisms are thought to have developed and diversified from earlier forms during the history of the earth, driven by natural selection, genetic drift, mutations, and gene flow.

Darwin

Refers to Charles Darwin, a British naturalist known for his contributions to the science of evolution and his proposal of natural selection as a mechanism for evolutionary change.