When one person's opportunity cost of producing a good is lower than another person's opportunity cost of producing the same good,it is called

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When one person's opportunity cost of producing a good is lower than another person's opportunity cost of producing the same good, they have a comparative advantage in producing that good. This means that they can produce the good at a lower opportunity cost than the other person, and therefore it is more efficient for them to specialize in producing that good and trade with the other person for other goods or services. Specialisation and trade based on comparative advantage can lead to higher overall levels of production and consumption for both parties involved.

When One Person's Opportunity Cost of Producing a Good Is