Concepts Affecting Trade
{"Image DocumentName": "Concepts Affecting Trade", "Image ImageDescription": "Absolute advantage \u2013 exists when one nation can produce goods more cheaply than another nation. Comparative advantage \u2013 ability of a nation to specialize in the production of the good for which it has lowest opportunity cost. Competitive advantage \u2013 economic competitiveness of a nation reflected in the absolute cost of a given good in a given market at a particular point in time. 3. Pages", "Image XResolution": "37", "Image YResolution": "37", "Image ResolutionUnit": "Pixels/Centimeter", "Image Software": "SlidePlayer", "Image YCbCrPositioning": "Centered"}