What is Comparative Advantage

Comparative advantage in an economic model is the advantage over others in producing a particular good. A good can be produced at a lower relative opportunity cost or autarky price, i.e. at a lower relative marginal cost prior to trade. Comparative advantage describes the economic reality of the work gains from trade for individuals, firms, or nations, which arise from differences in their factor endowments or technological progress.

How you will benefit

(I) Insights, and validations about the following topics:

Chapter 1: Comparative advantage

Chapter 2: David Ricardo

Chapter 3: Labor theory of value

Chapter 4: Internationalization

Chapter 5: Classical economics

Chapter 6: Stolper-Samuelson theorem

Chapter 7: Balassa-Samuelson effect

Chapter 8: On the Principles of Political Economy and Taxation

Chapter 9: Absolute advantage

Chapter 10: Heckscher-Ohlin model

Chapter 11: New trade theory

Chapter 12: Economic integration

Chapter 13: Leontief paradox

Chapter 14: Intra-industry trade

Chapter 15: Gravity model of trade

Chapter 16: Revealed comparative advantage

Chapter 17: Ricardian economics

Chapter 18: Luigi Pasinetti

Chapter 19: Robinson Crusoe economy

Chapter 20: International trade theory

Chapter 21: Ricardo-Viner model

(II) Answering the public top questions about comparative advantage.

(III) Real world examples for the usage of comparative advantage in many fields.

Who this book is for

Professionals, undergraduate and graduate students, enthusiasts, hobbyists, and those who want to go beyond basic knowledge or information for any kind of Comparative Advantage.