Learning- by- doing is a basis for
A) reducing the gains from trade over time.
B) eliminating opportunity cost.
C) dynamic comparative advantage.
D) absolute comparative advantage.

Question

Quizplus · Accepted Answer

Learning-by-doing refers to the process of acquiring knowledge and expertise through hands-on experience, which can lead to dynamic comparative advantage. Dynamic comparative advantage refers to the ability of firms or countries to gain comparative advantage over time through continuous learning and improvement. Therefore, learning-by-doing can be a basis for dynamic comparative advantage.

Learning- By- Doing Is a Basis for