comparative advantage

relative benefit, something which is beneficial when compared to the other options

English contemporary dictionary. 2014.

Look at other dictionaries:

  • Comparative advantage — Economics …   Wikipedia

  • comparative advantage — Theory suggesting that specialization by countries can increase worldwide production. Bloomberg Financial Dictionary * * * comparative advantage comparative advantage ➔ advantage * * * comparative advantage UK US noun ECONOMICS ► [C] an advantage …   Financial and business terms

  • Comparative Advantage —    The idea of “comparative advantage” is a principal component of the doctrine of free trade; it was articulated most coherently in The Principles of Political Economy, published in 1819 by the economist David Ricardo. Developing ideas on… …   Encyclopedia of the Age of Imperialism, 1800–1914

  • comparative advantage — Gen Mgt an instance of higher, more efficient production in a particular area. A country that produces far more cars than another, for example, is said to have the comparative advantage in car production. David Ricardo originally argued that… …   The ultimate business dictionary

  • comparative advantage — Economic theory first advanced by Robert Torrens and David Ricardo that analyzes international trade in terms of differences in relative opportunity costs. The theory suggests that countries should specialize in the goods they can produce most… …   Universalium

  • Comparative Advantage — A situation in which a country, individual, company or region can produce a good at a lower opportunity cost than a competitor. Let s break this down into a simple example. Suppose that two firms both produce two main products: ice cream and… …   Investment dictionary

  • comparative advantage — The relative efficiency in a particular economic activity of an individual or group of individuals over another economic activity, compared to another individual or group. One of the fundamental propositions of economics is that if individuals or …   Accounting dictionary

  • comparative advantage — santykinis pranašumas statusas T sritis Politika apibrėžtis Valstybės ekonomikos gebėjimas efektyviau negu kitose šalyse gaminti prekes ar teikti kitas paslaugas. Kertinė laisvos tarptautinės prekybos pagrindimo koncepcija, ją suformulavo britų… …   Politikos mokslų enciklopedinis žodynas

  • comparative advantage — noun : the advantage enjoyed by a person or country in the cost ratio of one commodity to another in comparison with the ratio of costs of these same commodities elsewhere …   Useful english dictionary

  • comparative advantage —   the idea that areas tend to be more efficient in certain economic activities than others and so should specialise in them in order to maximize their quality of life through trade …   Geography glossary

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