Law of comparative advantage: Difference between revisions
From ACT Wiki
Jump to navigationJump to search
imported>Administrator (CSV import) |
(No difference)
|
imported>Administrator (CSV import) |
(No difference)
|
According to this hypothesis, a country will specialise in producing, and will export, those goods that it can produce relatively cheaply compared with foreign countries. It will import those goods that it can produce only at relatively high cost.