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Investopedia Video: Explaining Comparative Advantage

162 ratings | 26417 views
Comparative advantage is the ability of an individual, company or country to produce a good or service at a lower opportunity cost than its competitor. Having a comparative advantage doesn't mean that one entity is better than another at producing a good or service. It means that it sacrifices less to do so.
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Text Comments (4)
Black US (2 years ago)
But this is good to the economy of a country point, not to the producer itself, if i understood.
sivan ferna (5 months ago)
I think its better for a producer as well but this is a bad example, not 100 percent sure
miguel matos (3 years ago)
Brad Hipsher (5 years ago)
I love these videos. As an econ major, it's good to see economics explained in an accessible way.

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