Law of comparative advantage: Difference between revisions
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imported>Doug Williamson (Classify page.) |
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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. | |||
== See also == | == See also == | ||
* [[Exports]] | * [[Exports]] | ||
* [[Imports]] | * [[Imports]] | ||
[[Category:The_business_context]] | |||
[[Category:Financial_products_and_markets]] | |||
