Comparative advantage is an economic term that describes doing what you do best, and leveraging that against what you don’t do so well. World economies depend on the outcome. Comparison advantage is ...

Troy Segal is an editor and writer. She has 20+ years of experience covering personal finance, wealth management, and business news. Absolute and comparative advantage are economic concepts that help ...

A comparative advantage means having the lowest cost of producing a product. Numerous factors contribute to comparative advantage. Having a comparative advantage allows a company to lower prices on ...

Andrew Beattie was part of the original editorial team at Investopedia and has spent twenty years writing on a diverse range of financial topics including business, investing, personal finance, and ...

In the early 19th century David Ricardo formulated the principle of comparative advantage to explain mutual gains from trade among countries. He based it on a critical assumption: that capital did not ...

I think we will all happily take, as a sterling standard of impossibility, the idea of my ever winning a Nobel in anything. Even the Peace Prize which has been offered to some pretty odd people over ...

A comparative advantage can be something inherent, in the way a person’s height might make them better at basketball. It can also be developed and improved, the way one basketball player can become ...

Frank A. Wolak is a professor of economics and director of the Program on Energy and Sustainable Development at Stanford University. Updated January 19, 2011, 11:01 PM A basic economic theory of ...

Martin Richardson does not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and has disclosed no relevant affiliations beyond ...