Trade will be beneficial for a nation with a comparative advantage in producing a certain product.

Question

Quizplus · Accepted Answer

A nation with a comparative advantage in producing a certain product can produce it at a lower opportunity cost compared to other nations. By specializing in producing that product and trading with other nations, the nation can increase its overall output and economic welfare. This principle is known as comparative advantage theory in economics.

Trade Will Be Beneficial for a Nation with a Comparative